Apple mobile wallet practices hurt competition, says EU regulators

Mobile wallet - Back of iPhone - Blue case

The European Commission’s preliminary findings were that the policies harmed competition. European regulators have notified Apple Inc. that its mobile wallet practices were, in their initial view, harmful to competition. The preliminary findings of the European Commission do not “prejudge the outcome” in antitrust investigations. The European Commission (EC) announced in a news release that it had advised Apple “of its preliminary view that it abused its dominant position in markets for mobile wallets on iOS devices.” The focus of the concerns expressed about the payment app had to do…

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Mobile payments market to reach $42 billion this year

Mobile payment market - smartphone transaction - Growth

Moreover, by 2032, it will have reached a CAGR of 30 percent and will be worth $590 billion. The mobile payments market is continuing its explosive growth, to the point that it is expected to reach a value of $42 billion by the close of this year. That will involve an astounding 30 percent CAGR that will bring it to $590 billion by the end of the next ten years as 2032 comes to a close. Though device-based transactions have been popular in some markets, they were slow to take…

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Does Apple have the right to the NFC technology used for its mobile wallet?

NFC technology - Apple wallet

Aire Technology patent-holding company has filed a lawsuit against the iPhone maker. Irish patent-holding company Aire Technology has sued Apple over alleged patent infringement for the NFC technology and digital wallet tech used in many iPhone models. The lawsuit was filed with the US District Court for the Western District of Texas. The company’s lawsuit asserts that Apple products such as the iPhone and Apple Watch “that support NFC and/or mobile payment applications, such as Apple Pay […] infringe at least one claim” of three US patents. Those patents were…

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8 Factors to Consider When Buying an ID Scanner

ID scanners play a significant role in capturing important information in organizations. These electronic machines read data on ID cards for purposes of identification or proof of age. They are not an incursion to privacy but a verification in adherence to the law for public safety or owner’s measures. Consider these factors before buying an ID scanner. 1. Simplicity A good ID scanner should be user-friendly with the ability to access data quickly. Ideally, it should be an automatic ID scanning device fitted with a large screen for quick and…

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Chargebacks: Why They Happen and How to Prevent Them

Online fraud has become a real threat to many consumers, especially those who pay for goods and services using credit cards. That is why there has been a sudden upsurge in the number of complaints among cardholders concerning wrong charges from merchants. Online traders must consider chargeback protection to minimize any losses associated with such happenings. Additionally, as a merchant, you need to understand the causes of chargebacks and how you can prevent them. Why Do Chargebacks Happen? There are several reasons why this reversal occurs, which is why you need to…

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