iPhone users in Europe will no longer have to use Apple Pay for mobile payments

iPhone users in Europe will no longer have to use Apple Pay for mobile payments

Apple has yielded to pressure by European regulators to give rivals access to the contactless payments technology on iPhones, meaning that their users will no longer be limited to the Apple Pay mobile wallet. The development on the tap-to-pay technology underscores mounting regulatory scrutiny of Apple (AAPL) in the European Union, where it is also facing a potential huge fine for allegedly breaching the bloc’s landmark Digital Markets Act. The European Commission, the EU’s executive arm, announced this and other …