Insights: Apple Offers Third Parties Access to Mobile Payment Tech in EU

January 2024
Fintech & Payments

Apple has offered to give rivals the ability to access and interoperate with its contactless payment tech in an effort to appease antitrust regulators in Europe.

Apple is seeking to resolve the antitrust case brought in 2022 in order to avoid a fine. The commission alleged that Apple was restricting competition by blocking developers of rival mobile wallet apps from accessing the NFC (Near-field Communication) technology used by its Apple Pay system; preventing developers from offering competing services on Apple devices. Apple has offered to allow third-party mobile wallet and payment services providers to access and interoperate through a set of APIs (Application Programming Interfaces) with the NFC functionality on iOS devices free of charge, without having to use Apple Pay or Apple Wallet. 

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