Apple Would Have to Share Payment Tech Under Rules Mulled by EU

Sept. 17, 2020, 5:33 PM

The European Union is considering new rules that would likely require Apple Inc. to give competitors access to payments technology inside its iPhones.

The new laws would prevent mobile device manufacturers from limiting access to near-field communication technology embedded in smartphones and other devices such as smartwatches, according to documents obtained by Bloomberg.

NFC technology handles wireless signals that allow users to pay via their devices at store terminals, rather than a credit or debit card. While the report did not mention Apple by name, at present iPhone and Apple Watch users can only make NFC payments using Apple Pay. ...

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