Follow the money: Who benefits from the UK’s Apple Pay crackdown?
The UK's Competition and Markets Authority issued a consultation requiring Apple to grant competitors fair, non-discriminatory access to NFC technology on iOS devices. This action follows business complaints that existing Apple arrangements are not commercially viable. Current UK adoption shows 30 percent of adults use Apple Pay and 50 percent of digital wallet users employ Apple Wallet. The EU has similarly forced Apple to open NFC access, resulting in adoption by international services like PayPal, Klarna and Vipps. The CMA aims to foster innovation and competition in the UK fintech sector.
Key points
- CMA mandates Apple grant competitors fair, non-discriminatory NFC access on iOS devices.
- 30% of UK adults currently use Apple Pay; 50% of digital wallet users employ Apple Wallet.
- EU has already forced similar NFC liberalization, enabling PayPal, Klarna and Vipps entry.
- Regulation aims to boost UK fintech innovation and reduce payment system monopoly constraints.
Summary and key points written by AI from the headline and a short excerpt, so they can be incomplete or wrong. Computerworld did the reporting; read the original for the full story.
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