- Apple Inc AAPL failed to comply with the requirements set by the Netherlands Authority for Consumers and Markets (ACM) regarding payment systems for dating-app providers.
- The decision follows an investigation into Apple's statements of January 15, 2022.
- Apple now has to pay ACM the first penalty payment of €5 million.
- Related Content: Here's Why Cowen Remains Optimistic On Apple
- The penalty could extend to a maximum of €50 million, if Apple did not act by the said order.
- Apple needs to allow dating-app providers to use payment systems other than Apple's payment system in the App Store.
- Additionally, dating-app providers should have the ability to refer to payment systems outside of the app.
- Price Action: AAPL shares traded lower by 2.73% at $158.05 on the last check Monday.
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