The EU has filed a notice of objection over Apple’s monopoly on NFC payment technology and Apple Pay.
The European Union recently said that Apple is denying other companies access to NFC technology for other contactless payment services on the iPhone. The organization claims that the Cupertino-based company limits competition within the mobile wallet market and prevents developers from using the technology. The European Commission concludes that Apple benefits from this degree of market control.
Apple currently has the Statement of Objections and a full investigation is pending after the preliminary opinion. For the latest investigation, Apple could face fines of about 10 percent of its worldwide sales if found guilty.
The Wall Street Journal outlines the violation of the EU’s antitrust law, but no formal response has yet been sent, either to the public or to the European Union.