Tim Cook visits NXP: ‘Sufficient competition on wireless payment market’
Tim Cook, CEO of Apple, says there is sufficient competition within the European wireless payment market. As far as he is concerned, the EU does not need to impose sanctions on Apple Pay in regard to antitrust regulation. In addition, the Apple top executive indicates that the tech giant will maint... Read more
Apple claims its App Store stopped $2B in fraudulent transactions
Apple highlighted in a recent press release that its App Store prevented more than $2 billion in potentially fraudulent transactions last year while rejecting nearly 1.7 million app submissions for failing to meet privacy and security standards.
This announcement comes as Apple faces mounting pr... Read more
Linux group launches OpenWallet Foundation to push interoperability
The new organisation will promote open source software interoperability for digital wallets
This week Linux Foundation Europe announced the official formation of the OpenWallet Foundation (OWF). The announcement said the aim of the OWF was to "develop open source software to support interoperabi... Read more
FTC orders Mastercard to end “illegal business tactics”
The government agency alleges Mastercard has violated U.S. law and Federal regulations.
The United States Federal Trade Commission is ordering an end to what it says are illegal business tactics that Mastercard has been using to force merchants to route debit card payments through its payment ne... Read more
Apple face new EU charges next week, Financial Times reports
According to Financial Times (FT), the EU plans to accuse Apple of blocking financial groups from the Apple pay system.
The EU will bring an antitrust charge against the tech giant (Apple) over how it functions the “Apple Pay” digital wallet, reports FT. The report further claims charges wil... Read more
‘iPhones will soon be usable as payment terminals’
Apple is secretly working on an update that will make iPhones usable as payment terminals. Bloomberg reported the news based on anonymous sources familiar with the matter.
Although iPhones can already be used to accept credit and debit card payments, a Bluetooth connection with a wireless paymen... Read more