By news@appleinsider.com (William Gallagher) The European Union has formally accepted Apple’s response to its antitrust concerns over Apple Pay, and iPhones will now allow rival firms to use the technology.Apple is opening up its NFC APIs to rivals in the EUThe EU had threatened Apple with fines of up to $40 billion for how it reserved iPhone NFC technology solely for its own Apple Pay. Apple agreed to open it up to rivals within the EU, but it has taken some months for the regulators to accept the details.The EU says that the time was spent testing Apple’s commitments, and consulting with rivals over them. After some adjustments, the EU has now accepted Apple’s commitments, and is making them legally binding for the next ten years. Continue Reading on AppleInsider | Discuss on our Forums

Source:: Apple Insider