GlobalApple will open its mobile payment system to rivals, says EU

Apple will open its mobile payment system to rivals, says EU

Apple has promised to open its mobile payment system to rivals, the European Union said Friday, a move taken by the American technology company as it seeks to resolve an antitrust case and avoid a potentially multimillion-dollar fine.

The company proposed allowing third-party payment service providers and mobile wallets to access the contactless or proximity payment function in its iOS operating system, the EU detailed. The 27-nation bloc now awaits feedback from “all interested parties” on the changes before making a decision on the case.

The European Commission, the bloc’s executive arm and most responsible for enforcing antitrust laws, accused Apple in 2022 of abusing its dominant position by limiting access to its mobile payments technology.

Brussels is using antitrust cases and new digital laws to curb the power of Apple and other tech giants and protect consumers.

The commission alleged that Apple was restricting competition by preventing rival payment app developers from accessing the near field communication (NFC) technology used by Apple Pay. That prevents these developers from offering competitive services on Apple devices, according to the EU.

Fines for violating European competition law could reach up to 10% of a company’s annual global revenue, which, in the case of Apple, could amount to tens of billions of dollars.

The changes Apple is proposing to ease EU antitrust concerns will last a decade and apply to rival mobile wallet makers as well as iOS users in the bloc’s 27 countries, plus Iceland, Norway and Liechtenstein, it said. the Commission.

Apple noted that through “ongoing discussions” with the commission, it offered to provide payment, banking and digital wallet app developers an option for their users to “make NFC contactless payments from their iOS apps, separate from Apple Pay.” and Apple Wallet.”

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