UK regulator proposes forcing Apple to open iPhone contactless payments to Apple Pay rivals on lower fees
The UK's competition regulator wants Apple to open up the iPhone's contactless payment technology to rival wallet apps on cheaper and more flexible terms.
On October 20, the Competition and Markets Authority (CMA) published a consultation on a proposed conduct requirement under the Digital Markets, Competition and Consumers Act 2024. The rule would follow Apple's Strategic Market Status designation in the UK and is aimed at making it easier for fintechs and other challengers to compete with Apple Wallet.
Two changes sit at the centre of the plan. First, Apple would have to support both of the main international standards for contactless payments: secure element (SE) access and host card emulation (HCE).