Apple has moved to revamp its European Union app store policies as it seeks to fend off escalating fines under the 27-nation bloc's digital competition regulations.

The iPhone maker’s proposal is designed to make it cheaper and less onerous for third-party developers to direct customers away from the Apple ecosystem to make payments elsewhere.

Apple has reworked the terms and conditions for developers that use its highly lucrative App Store in the European Union in a bid to avoid racking up more fines under the EU’s digital antitrust law.