Apple Set to Gain EU Approval for NFC Access Proposal, Averting Antitrust Fines

Apple Music’s student plan is getting more costly

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.

Apple Music’s student plan is getting more costly

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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Pooja Chauhan

Pooja Chauhan: Your Source for Entertainment and Box Office NewsPooja Chauhan is a passionate writer and dedicated journalist specializing in delivering the latest updates and insights from the world of entertainment and box office. With a keen eye for detail and a deep love for cinema, Pooja brings her readers accurate and engaging coverage of all things related to movies, celebrities, and the dynamic world of showbiz. Her commitment to keeping her audience well-informed and entertained makes her a valuable voice in the realm of entertainment journalism. When she's not busy uncovering the latest scoops, Pooja enjoys exploring classic films and indulging in creative writing." Contact us: admin@bollywoodfever.co.in

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