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EU might be close to giving a nod to Apple’s iPhone NFC change
Until now, Apple has tightly controlled access to the NFC contactless chip on the iPhone, citing concerns about user experience, privacy, and security. This has made Apple Pay the dominant contactless payment option on the iPhone, with virtually no competition.
Apple’s attempt to settle the investigation by altering its policies would enable it to avoid a finding of wrongdoing and fend off a potential significant fine, which could amount to as much as 10% of its global annual turnover.
And the Cupertino tech giant likely wants to avoid further fines, especially considering that just last month, the company received a hefty €1.84 billion (around $2 billion directly converted) fine, its first EU antitrust penalty. This fine was imposed for hindering competition from Spotify and other music streaming rivals through restrictions on its App Store.
That being said, the inclusion of alternative contactless payment apps won’t be a completely unrestricted free-for-all. App developers will need to request entitlement from Apple to gain these privileges. They’ll also need to adhere to various industry standards and possess the necessary licenses to handle consumer payments to qualify.
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