Apple’s tap-and-go mobile payments
Apple‘s proposal to make its tap-and-go mobile payments technology available to competitors is expected to receive approval from EU antitrust regulators as early as next month, following adjustments to the terms of the offer, according to sources.
This move could conclude a four-year investigation and allow Apple to avoid accusations of wrongdoing and a potential fine that might have reached up to 10% of its global annual revenue.
Near-Field Communication
The technology in question, known as near-field communication (NFC), enables contactless transactions through mobile wallets. The European Commission had previously claimed that Apple restricted competition by not allowing other mobile wallet apps to use its NFC technology, effectively monopolizing access to this payment method on Apple devices.
In a strategic shift, Apple proposed in January to open access to its NFC technology on devices like iPhones and iPads to rival companies, without any requirement to use Apple Pay or Apple Wallet. This access would be granted based on fair and non-discriminatory terms. Apple also suggested additional features such as the ability to set default payment apps, integrate authentication methods like FaceID, and establish a mechanism to resolve disputes.
Proposal Modification
Following feedback from competitors and customers, Apple was prompted to modify some terms of this proposal, which, if accepted, will be in place for a decade. The European Commission is poised to approve the offer by summer, potentially in May, though this timeline could shift as Apple finalizes the technical details.
This development comes after Apple faced a significant EU antitrust fine of 1.84 billion euros ($2 billion) last month. This penalty was imposed for limiting competition from Spotify and other music streaming services through restrictive practices on its App Store.
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