Apple Avoids EU Antitrust Threat With Tap-and-Pay Probe Deal

Apple Inc. has avoided the threat of fines from European Union regulators by agreeing to open up its mobile wallet technology to other providers free of charge for a decade.

The settlement brings to an end an investigation into the US tech giant’s closely guarded payments technology. The EU earlier warned that restricting access to the technology amounted to an abuse of its market power.

“Apple has committed to allow rivals to access the ‘tap and go’ technology of iPhones,” the EU’s competition chief Margrethe Vestager said. The decision will prevent Apple “from excluding other mobile wallets from the iPhone’s ...