The EU Accuses Apple of Abusing Its Mobile Payments Power

For more crisp and insightful business and economic news, subscribe to The Daily Upside newsletter. It's completely free and we guarantee you'll learn something new every day.

The conversation about the future of digital wallets is due to reverberate with the sound of real coins clinking in billions of virtual pockets. Analysts at Juniper Research predict that by 2026 -- that's in less than four years -- $12 trillion in payments will be processed using the technology.

On Monday, the European Union made clear that it wants that enormous market to be open and monopoly free. EU regulators threatened to fine Apple to the tune of billions for allegedly engaging in anti-competitive practices by denying rivals access to its mobile Apple Pay system.

Source Fool.com