By Mauro Orru


The European Union said Apple's decision to let third-party mobile wallet and payment services use the technology behind its Apple Pay app fully addresses concerns from officials that the iPhone maker was stifling competition.

The European Commission, the EU's executive arm, said it had made a series of commitments offered by Apple legally binding under the bloc's antitrust rules, meaning that Apple now has to comply with what it has offered.

"From now on, competitors will be able to effectively compete with Apple Pay for mobile payments with the iPhone in shops," said Margrethe Vestager, the EU's competition chief. "So consumers will have a wider range of safe and innovative mobile wallets to choose from."

Apple didn't immediately respond to a request for comment.


Write to Mauro Orru at mauro.orru@wsj.com


(END) Dow Jones Newswires

07-11-24 0533ET