Apple offers its rival payment apps access to contactless technology in EU
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The European Commission, which has been investigating Apple's practices concerning mobile wallet services since 2020, believes that this commitment from Apple will lead to increased competition and innovation in the mobile payments market. By providing third-party providers with access to NFC technology, consumers will have more choices in how they conduct their mobile transactions, potentially leading to better services and lower costs.
The Commission is currently seeking feedback on these commitments from interested parties. If the commitments are accepted, they will be enforced for a period of ten years. During this time, Apple must comply with the agreement, ensuring that third-party mobile wallet providers have fair access to NFC technology.
Failure to comply with the commitments may result in a substantial fine for Apple. The potential penalties underscore the importance of Apple's adherence to the agreement and its impact on the broader mobile payments ecosystem.
This resolution represents a notable shift in Apple's approach to its proprietary technology, potentially paving the way for greater collaboration and competition in the mobile payments sector. The European Commission's actions reflect its commitment to fostering a competitive environment that benefits both consumers and businesses.
https://ai-worldinfo.blogspot.com/2024/01/apple-offers-its-rival-payment-apps.html
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