Apple has reportedly offered to open up access to the NFC chip inside of the iPhone that powers tap-and-go mobile payments to rivals in the EU, which would allow developers to create and launch alternatives to Apple Pay, enabling third-party mobile wallet services to use Apple’s NFC contactless chip.
According to a report by Reuters, three people familiar with the matter have said that the move by Apple is to try and settle EU antitrust charges and avoid a possible hefty fine for NFC chip restriction, which the EU competition enforcer last year charged Apple with curbing rivals’ access to its tap-and-go technology, making it difficult for third-party developers to create services to rival Apple Pay.
The people citied say that the European Commission is likely to seek feedback next month from rivals and customers before deciding whether to accept Apple’s offer.
Launched on October 20, 2014, Apple Pay marked Apple’s entry into the mobile payment arena. Initially available in the United States, it swiftly expanded globally, reaching Europe, Asia, and the Americas. Over the years, Apple Pay evolved, integrating with apps and websites in 2016 and introducing peer-to-peer payments with Apple Cash in 2017.
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