Apple Opens NFC Mobile Payment System to Rivals Amid EU Antitrust Settlement

EU regulators have accepted Apple's proposal to open its tap-and-go NFC mobile payment system to competitors, concluding a four-year antitrust investigation. This settlement allows third-party developers to access NFC payments on iOS, meeting EU competition concerns. The agreement is valid for 10 years and ensures various functionalities for European developers.

In a significant move, EU antitrust regulators have accepted Apple's proposal to open its proprietary tap-and-go mobile payment system to competitors. This decision concludes a four-year-long investigation that could have led to a substantial fine for the tech giant.

The European Commission stated that 'Apple's final commitments would address its competition concerns over Apple's restriction of third-party mobile wallet developers' access to NFC payments in stores for EEA iOS users.' The agreement, which will be valid for 10 years, is seen as a substantial step in leveling the playing field.

Apple's offer will enable European developers to integrate tap-and-go payments for various functionalities including car keys, closed loop transit, corporate badges, and more within their iOS apps. The EU competition enforcer had previously charged Apple with hindering competition in the Apple Pay mobile wallet market by restricting access to its NFC technology.

(With inputs from agencies.)