Apple To Face EU Lawsuit With $27 Billion Fine

Apple is likely to face an antitrust case led by the European Union (EU). The focus of the prosecution should be on the NFC chip used for payments on Apple Pay, a technology that is closed and inaccessible to other companies in the sector.

The information was released this Wednesday (06) by Reuters. According to the vehicle, EU sources said the entity is preparing a document to ask: Apple for an explanation of the matter.

The formalization, to be sent to Apple not until 2022, will accuse the company of introducing anti-competitive market practices. The process is being conducted by the European Competition Commission, the entity responsible for regulating the market on the continent and led by Danish economist Margrethe Vestager.

According to Reuters, the investigation into the case began in mid-June last year, when the Commission took a closer look at Apple Pay. The European entity is concerned about how the iPhone’s tap-and-go system is being used in apps and commercial websites and how the tech giant is not very transparent about the tool.

After an initial investigation, the regulatory organization began targeting the NFC chip, which is used exclusively in Tim Cook’s company’s payment tool.

The Commission has at least three lawsuits against: Apple and can fine the company up to 10% of worldwide turnover. Taking into account the brand’s sales in 2020, the value could reach $27.4 billion (about $150 billion at today’s price). Apple even defended itself on the matter, stating that it is not releasing the systems for privacy and security reasons.

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