01/19/2024 – 15:41
Apple said it intends to address European regulators' competition concerns around the popular Apple Pay app by allowing mobile wallet service providers and third-party payment services to access it.
The US technology giant has agreed to grant permission for business apps to make contactless payments on devices running the iOS operating system, such as iPhones, free of charge, without the need to use Apple Pay or Apple Wallet, the European Commission's executive arm said on Wednesday. Friday, 19.
The EU's executive arm opened a consultation with the company's competitors on this and other points, following an investigation into competition concerns that began in 2020. The European Union's main focus was to discover whether blocking access to NFC technology – the software and hardware needed for mobile devices to communicate with store payment terminals – represented a violation of the rules.
“In light of ongoing discussions with the European Commission, we have made commitments to provide third-party developers in the European Economic Area with an option that will allow their users to make contactless NFC payments from their iOS applications, separate from Apple Pay and Apple Wallet,” said Apple.
“Apple Pay will continue to be a widely available option, and more than 3,000 issuing banks in every country in the European Economic Area will still be able to offer Apple Pay's unmatched privacy and security, as well as its great user experience,” the company said.
The commitments offered by Apple are valid for ten years. Its implementation will be monitored by an administrator, who will regularly report to the Commission. Source: Dow Jones Newswires.
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