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Apple to Allow Rivals to Access ‘Tap and Go’ Technology
Jul 12, 2024
Apple will allow competitors to access its Tap and Go payment technology on iPhones for the next decade to promote competition in the mobile payments sector following a dispute with the European Commission.
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Quick takeaways
- Apple is allowing rivals to utilize NFC technology for free, enhancing competition in mobile payments.
- EU regulations are pushing Apple to open up its ecosystem, increasing consumer choices and third-party developer options.
Deep dives
Apple to Allow Rivals Access to TapnGo Technology
Apple's mobile wallet, Apple Pay, will now allow rival companies to use its NFC technology on iPhones for free as per the European Union regulators. This move comes after a two-year dispute between Apple and the European Commission over Apple's payment technology, aiming to prevent market power abuse. The change enables competition in mobile payments, ensuring a variety of mobile wallets for consumers in the EU for at least the next 10 years. Apple's decision to open up NFC technology will also allow developers in Europe to use it for various purposes like car keys and event tickets.
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