22 January 2024

Apple offers to open up NFC payments access to settle EU antitrust probe

Written By FinTech Alliance in Payments

Apple offers to open up NFC payments access to settle EU antitrust probe

Apple is seeking to resolve the antitrust case brought in 2022 and avoid a fine that could run into the billions of dollars.

In brief:

- Apple has moved to head off European Commission antitrust charges by offering third-party party providers access to the NFC chip technology that enables iPhone users to make contactless payments.

- The US giant is offering to allow third-party mobile wallet and payment service providers to access and interoperate the NFC functionality on iOS devices through a set of APIs free of charge, without having to use Apple Pay or Apple Wallet.

- The agreement, which would run for 10 years, would cover all third-party mobile wallet app developers established in the European Economic Area and all iOS users with an Apple ID registered in the EEA.

Read more here

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