EU Set to Approve Apple’s Concession on Mobile Payments


Apple’s proposal to open its contactless payment system to competitors is on track for approval by EU regulators next month, according to insiders. This move follows adjustments made by Apple in response to the EU’s four-year antitrust investigation.

The investigation focused on Apple allegedly hindering competition for its Apple Pay service by restricting access to its near-field communication (NFC) technology for other mobile wallet developers.

In January, Apple offered rivals free access to its NFC chip on iPhones, iPads, and other devices. This access wouldn’t require users to adopt Apple Pay or Apple Wallet, and would be provided based on fair and non-discriminatory criteria.

Apple’s proposal also included additional features for competitors, such as allowing users to set default payment apps, access to FaceID authentication, and a dispute resolution mechanism. Following feedback, the EU requested some revisions to these terms.

The agreement would reportedly last 10 years, with a provisional approval target of May. However, finalization might depend on Apple finalizing technical details.

This comes on the heels of a €1.84 billion ($2 billion) fine imposed on Apple last month for stifling competition in music streaming through App Store limitations.

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