Apple (AAPL) has reached an agreement with European Union (EU) regulators concluding a long-fought legal battle over antitrust concerns. The tech giant will open up its mobile payment system, Apple Pay, to third-party competitors. This move will allow other companies to integrate their payment services directly into the Apple Wallet on iPhones, ending Apple's monopoly over payment systems on its devices within the region.

Catalysts co-hosts Seana Smith and Madison Mills break down the details.

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This post was written by Angel Smith