Apple is set to settle a lengthy EU antitrust probe into “tap-and-go” payments facilitated by Apple Pay — reports the Financial Times.
Citing sources with knowledge of the matter, the publication reported that Apple could soon reach an agreement with EU regulators in exchange for a series of accommodations granting competitors access to its contactless payment technology.
Back in 2022, the European Commission accused Apple of breaking EU competition laws by denying Apple Pay competitors access to the near-field communication (NFC) chips that enable “tap-and-go” payments on its devices. The practice limits contactless payments on Apple devices to Apple Pay, the tech giant’s flagship payment service.
If the investigation were to implicate Apple, the Cupertino, California-based company could face fines worth up to 10% of its global turnover. According to the new report, however, regulators are largely satisfied with the concessions Apple offered back in January of this year.
Under the proposed changes, Apple would open up “tap-and-go” payments on its devices by giving developers free access to the NFC chips on iOS devices without requiring them to use Apple Pay or Apple Wallet to process payments.
Apple has offered to keep the arrangement in place for a decade. Brussels has been testing the changes and the two parties are still working out technical details, but sources expect a settlement to be formally announced in the next few weeks.
Apple declined to comment on the matter, instead highlighting an earlier statement:
“Through our ongoing discussions with the European Commission, we have offered commitments to provide third-party developers in the European Economic Area with an option that will enable their users to make NFC contactless payments from within their iOS apps, separate from Apple Pay and Apple Wallet.”
The statement went on to note that Apple Pay will continue to be available as a payment option in the EEA, where it is used by more than 3,000 issuing banks.
Apple has been in quite a bit of hot water with European regulators as of late. Earlier this year, the EU slapped Apple with a €1.84 billion (about $2.7 billion CAD) fine for anti-competitive practices in the music streaming space, which the company has since appealed.
Per a report from last week, Apple could also become the first tech firm to be charged under the EU’s new Digital Markets Act, meant to curb monopolies and increase competition across the bloc.
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Although sometimes the EU has a point, it seems to be mostly interested in messing with successful products, I remember when they required Microsoft to make a Windows Operating system with no Internet Explorer. Did they require that of Apple or Llnux? If someone doesn't like how Apple products work, they are free to buy an android or maybe that European Operating system…symbian..oh wait, it isn't popular.