Apple will allow its iPhone payment features to be made public after EU antitrust officials warned it was unfairly restricting competition.
Apple Pay allows users to buy goods simply by tapping their iPhone using near-field communication (NFC) technology, but banks and other rivals have argued it is unfair to force them to use software controlled by Apple.
Under a deal brokered by the European Commission, Apple will allow alternative electronic payment systems access to the iPhone’s NFC chip, or face a hefty fine of 10% of its global turnover if it fails to comply.
EU officials are now gathering information on whether the plans will help boost competition after Apple was found in 2022 to be unfairly restricting access to its technology.
An Apple spokesperson said the existing software will not change, but it will allow you to use other payment apps, as well as third-party digital wallets, for free and without having to use Apple Pay or Apple Wallet.
