Financial news reports and press releases from major European banks

EU to Approve Apple's NFC Mobile Payment Access Next Month

Apr 19, 2024, 05:04 PM

The European Union is set to approve Apple's proposal to open its tap-and-go mobile payment technology to competitors as early as next month, according to Reuters. This decision by EU antitrust regulators will allow banks and other payment providers to access Apple's NFC chip technology, which is integral to mobile payments systems like Apple Pay. The move is expected to foster greater competition in the mobile payments market and is seen as a response to antitrust concerns, with the EU likely dropping some charges against Apple.