Tech giant Apple is the target of two EU antitrust investigations into its App Store and Apple Pay as regulators said its terms and conditions and restrictions may violate the bloc’s competition rules. Apple’s global App Store fees are estimated to generate more than $1 billion (€888 million) for the company every month. Apple said in January that consumer spending on the App Store hit a new single-day record of $386 million on January 1st – likely generating $50 million to $100 million for Apple itself. Ms Vestager added: “It appears that Apple sets the conditions on how Apple Pay should be used in merchants’ apps and websites. It also reserves the ‘tap and go’ functionality of iPhones to Apple Pay.

Source: The Irish Times June 16, 2020 11:04 UTC