Apple Shares NFC Mobile Payments System with Rivals in EU Antitrust Settlement

Posted on July 12, 2024 by darion

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THE CENTER OF ATTENTION

EU regulators have approved Apple’s proposal to open up its tap-and-go NFC mobile payment system to competitors, ending a four-year antitrust investigation. The settlement allows third-party developers to access NFC payments on iOS, meeting EU competition concerns. The agreement is valid for 10 years and provides various features to European developers.

Devdiscourse Press Office | Brussels | Belgium

Updated: 11-07-2024 14:42 IST | Created: 11-07-2024 14:42 IST

In a significant move, EU antitrust regulators have approved Apple’s bid to open up its proprietary tap-and-go mobile payment system to competitors, ending a four-year investigation that could have led to a significant fine for the tech giant.

The European Commission said that “Apple’s final commitments will address its competition concerns related to Apple’s restricting the access of third-party mobile wallet developers to NFC payments in stores for EEA iOS users.” The agreement, which will run for 10 years, is seen as a significant step towards leveling the playing field.

Apple’s offering will allow European developers to integrate tap-and-go payments for a variety of features, including car keys, closed-loop transportation, corporate badges and more, into their iOS apps. The EU’s antitrust watchdog previously accused Apple of hampering competition in the Apple Pay mobile wallet market by restricting access to NFC technology.

(Disclaimer: Based on information obtained from the agency.)