Apple settles App Store NFC payments probe with EU to avoid fine

Apple will open its NFC tap-and-go mobile payments system to rivals, EU antitrust regulator said on Thursday, even as its chief Margrethe Vestager said the company has yet to change its business practices to comply with the Digital Markets Act regulations.

Reuters:
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The company faces three investigations under the Digital Markets Act (DMA), which requires Big Tech to ensure a level playing field for rivals and give users more choice.

Vestager said earlier on Thursday that she accepted Apple’s offer to open its tap-and-go mobile payments system to rivals to end a four-year long investigation that could have resulted in a hefty fine.

The European Commission, which acts as the EU antitrust enforcer, said Apple’s offer would be valid for 10 years. More than 3,000 banks and issuers in Europe offer Apple Pay.

Apple’s tap-and-go technology called near-field communication, or NFC, allows for contactless payments with mobile wallets. It will now allow developers to access its NFC to pre-build payment apps for rival mobile wallet providers.

Apple said its offer would give European developers an option to enable tap-and-go payments for car keys, closed loop transit, corporate badges, home keys, hotel keys, merchant loyalty/rewards, and event tickets from within their iOS apps.

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MacDailyNews Take: And smart users who value their privacy and security will continue to use Apple Pay and Apple Wallet regardless of ditzy Vestager’s bureaucratic meddling.
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