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Apple has agreed to open up its Near-Field Communication (NFC) technology to third-party mobile wallet providers, ending the exclusivity of Apple Pay and Apple Wallet. This move is aimed at resolving its antitrust case with the European Commission and avoiding a potential fine. The Commission is currently seeking feedback on these commitments, which would resolve this four-year-old investigation.
Apple responds to European antitrust concerns by inviting competitors to access its payment technology. The European Commission investigates market exclusivity, leading to proposed commitments for fair competition.
Apple has offered a set of commitments to competition regulators in the European Union aimed at resolving concerns focused on NFC payments and mobile wallet tech on iOS, its mobile operating system. The EU suspects Apple of unfairly favoring its own mobile payment tech, Apple Pay, and squeezing out the ability of rivals to develop competing contactless payment offerings on its mobile platform. The iPhone maker is proposing to let third party mobile wallet and payment service providers gain the necessary access to NFC functionality on iOS devices, free of charge, via a set of APIs -- without ...
Redding, California, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Meticulous Research®—a leading global market research company, published a research report titled, "NFC Market by Offering (Hardware (Tags/Cards, Readers),
/PRNewswire/ -- The authentication and brand protection market is expected to reach USD 4.3 billion by 2028 from USD 2.9 billion in 2023, at a CAGR of 8.3 %...