Apple settles with the EU over Apple Pay and avoids potential fines by agreeing to open NFC access on iOS to third-party wallet developers for free for a decade

Bloomberg 2024-07-12

Discussion

@kayjebelli Kay Jebelli on x
What will be really interesting is whether there will be a way to track the extent of fraud committed against users who choose these third-party wallets and this HCE alternative, instead of the proprietary Apple tech. Maybe the difference will be significant, maybe marginal.
@kayjebelli Kay Jebelli on x
What's underreported about today's settlement is that it does not give access to Apple's “Secure Element” technology, it's payment card emulation, using (presumably) standard NFC technology. This probably played into the Commission's hand, i.e. NFC isn't proprietary to Apple [ima…
@carnage4life Dare Obasanjo on x
3rd party wallet apps like Paypal or Cash app will now be able to provide tap-and-pay in the EU in the same way that Apple Pay supports today. Being an iPhone user in the EU now means USB-C adapters, 3rd party app stores, 3rd party tap & pay apps while everyone else looks on 😫 [i…
@kayjebelli Kay Jebelli on x
Commission successfully closes its investigation into Apple's (formerly) closed NFC payment technology, now open to rivals. DMA box is also ticked. We should see some changes on the market very soon. A few thoughts in this thread. https://x.com/...
@timsweeneyepic Tim Sweeney on x
A great move by the European Commission and by Apple that will benefit all Europeans. Too bad companies and citizens of all of the world's other countries excluded from the open payment tech commitments.
@munster_gene Gene Munster on x
Three takeaways from $AAPL settling its EU payments probe: 1. Historically, Apple has navigated antitrust topics by being proactive. Examples include: lowering the take-rate in the App Store, shifting to USB-C from lightning, and making hardware more reparable. Today's settlem…
@vestager Margrethe Vestager on x
It is safe and convenient to pay with your phone. @Apple has committed to allow rivals to access the ‘tap and go’ technology of iPhones. Today's decision makes Apple' commitments binding. It opens up competition in this crucial sector. https://www.shorturl.at/LWAEq
@arturo_p_a Arturo Portilla on x
The European Commission has made commitments offered by Apple legally binding under EU antitrust rules. The commitments address concerns on Apple's refusal to grant rivals access to NFC for contactless payments.
@eu_competition @eu_competition on x
#EUAntitrust Remarks by Executive Vice-President Vestager on the decision to make binding commitments offered by Apple 👇 🔗➡️https:// europa.eu/!RWW7KF [image]
@florian4gamers Florian Mueller on x
Apple pulling a Microsoft by settling an antitrust matter instead of exhausting all appeals. Out of character for Apple. They care less about digital wallets than app stores, apparently.
@samuelstolton Samuel Stolton on x
Apple has avoided the threat of fines from European Union regulators by agreeing to open up its mobile wallet technology to other providers free of charge for a decade: https://www.bloomberg.com/...
@lewis_crofts Lewis Crofts on x
Apple not fighting this one, but settling it. @vestager is asked by @JavierespFT if this is sign of a truce: It's “not a peace deal, it is a solution to a specific problem,” she says.
@eu_commission @eu_commission on x
Apple has committed to allowing rivals to access the ‘tap and go’ technology of iPhones. Today's decision opens up competition. From now on, competitors will be able to effectively compete with Apple Pay for mobile payments using iPhone in shops. #EU4Consumers
@eu_competition @eu_competition on x
#EUAntitrust Commission 🇪🇺accepts commitments by Apple opening access to ‘tap and go’ technology on iPhones 📱 👇 🔗➡️ https://europa.eu/!tmg37y [image]
@librariancap @librariancap on x
“Apple has avoided the threat of fines from EU regulators by agreeing to open up its mobile wallet technology to other providers free of charge for a decade” (Bloomberg) “Consumers in Europe will be able to use alternative digital wallets ... at checkouts” $AAPL $PYPL
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Apple Avoids EU Antitrust Threat With Agreement To Open Up Its Tap-and-Pay Payment Technology

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Apple settles with the EU over Apple Pay and avoids potential fines by agreeing to open NFC access on iOS to third-party wallet developers for free for a decade

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