The UK Competition and Markets Authority said Apple’s control over the iPhone is limiting competition from fintech companies trying to rival Apple Pay. The regulator has proposed requiring Apple to open access to the iPhone’s near-field communication, or NFC, technology. The development points to a direct challenge to how Apple manages wallet-related functions on its devices in the UK market. Bloomberg reported the proposal, and the item was cited by Techub. No additional implementation timeline or enforcement details were provided in the source brief.
The UK Competition and Markets Authority (CMA) said Apple’s control over the iPhone is hindering fintech rivals seeking to compete with its digital wallet, Apple Pay. The regulator has proposed forcing the company to open access to its near-field communication (NFC) technology on the iPhone.
Bloomberg reported the development.
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