Apple compelled to open up iPhone contactless payment to competitors

Featured image of the article Apple compelled to open up iPhone contactless payment to competitors
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20 August 2024 à 10h21

Updated on 23 August 2024 à 16h57

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1 minute

Publication: 20 August 2024 à 10h21, Updated on 23 August 2024 à 16h57

Reading time: 1 minute

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Publication

20 August 2024 à 10h21

Updated on 23 August 2024 à 16h57

Reading time

1 minute

Publication: 20 August 2024 à 10h21, Updated on 23 August 2024 à 16h57

Reading time: 1 minute

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On July 11, Apple (quarterly sales at the end of July: US$85.5 billion, up 4.9% year-on-year) made a commitment to the European Commission to open up iPhone contactless payment to competing payment apps. Apple risked a fine of 10% of turnover without this agreement.

Apple will open up the NFC (Near Field Communication) chip and the Secure Element (SE) chip to third-party developers. For the next 10 years, the Group agreed to extend the possibility of initiating payments using third-party...

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