EU May Force Apple to Support Contactless Payments from 3rd-Party Services: Report

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INTRO: As a part of its widening antitrust measures, the ec Union is reportedly considering new regulations that might force mobile device manufacturers to share any embedded NFC technology in their devices with third-party operators. That’s consistent with Bloomberg, which claims that such a regulation could make it mandatory for companies like Apple to share the payments technology in their smartphones and smartwatches with rival payments service providers.

According to the report: “In parallel with its ongoing and future competition enforcement, the Commission will examine whether it’s appropriate to propose legislation aimed toward securing a right of access under fair, reasonable and non-discriminatory conditions, to technical infrastructures needed to support the supply of payment services”.

While the EU doesn’t mention Apple by name, the move is believed to be aimed toward the iPhone-maker, as long as it does reference an antitrust investigation launched by the ecu Commission against Apple Pay earlier this year. Furthermore, several banks and other financial institutions have also complained about the company’s unwillingness to offer them access to the NFC technology in iPhones, which could finally change if the EU decides to travel ahead with its plan.

Apple is yet to reply to the report, but the corporate has earlier vehemently argued against opening up its NFC tech to third-party operators citing privacy and data-security concerns. consistent with Apple, releasing its NFC technology to third-party operators could jeopardize user privacy and heighten the danger of fraud. The official EU statement on the matter are going to be released next week, and consistent with the report, would come with safeguards against possible fraud by malicious actors.

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