Michele Mattei’s Post

NEWS Apple offers to open up NFC payments access to settle EU antitrust probe Apple offers third-party access to NFC chip technology, addressing European Commission antitrust charges and potential billion-dollar fines. The 10-year agreement allows third-party mobile wallet apps in the European Economic Area (EEA) to use NFC functionality via free APIs, promoting competition and choice. Apple commits to enabling preferred payment app defaults, access to authentication features like FaceID, and welcomes feedback from competitors and customers on these commitments. The development is positive for the banking system as it fosters competition, empowers consumers, and opens up opportunities for financial institutions to offer their solutions in the growing mobile payments market. #MobilePayments #NFCTechnology #ApplePay #BankingInnovation

🚨 𝘽𝙍𝙀𝘼𝙆𝙄𝙉𝙂: Apple's New Commitment to Open NFC Payments to Rivals in EU In a significant move to address EU antitrust concerns, #Apple has offered to open up its Near-Field Communication (#NFC) technology to third-party mobile wallet providers. This proposal aims to settle a probe by EU competition regulators regarding NFC payments and mobile wallet technology on iOS devices. Apple had been under scrutiny for allegedly favoring its own mobile payment technology, Apple Pay, potentially #limiting the ability of rivals to develop competing contactless payment offerings. Under the new commitments, Apple proposes allowing third-party mobile wallet and payment service providers to access NFC functionality on iOS devices without any charges, and without the need to use Apple Pay or Apple Wallet. However, third parties will not gain access to a specific component of Apple’s mobile hardware, the secure element, which is used for securing transactions made using Apple Pay. Instead, Apple has offered “equivalent access” to NFC components through what is known as “Host Card Emulation (HCE) mode.” This mode would enable secure storage of payment credentials and transaction completion using NFC, independent of the in-device secure element. These proposed commitments, subject to EU approval, would apply to all third-party mobile wallet app developers in the European Economic Area and to all iOS users with an Apple ID registered in the region. Apple also pledges to provide third parties with additional features and functionality, such as defaulting preferred payment apps and access to authentication features like FaceID. Moreover, Apple commits to applying fair and transparent criteria for granting NFC access to third parties, which would involve concluding an ADP license agreement. An independent dispute settlement mechanism will also be established, where decisions made by Apple to deny NFC access can be reviewed by independent experts. This development follows a series of antitrust investigations and charges against Apple by the EU, which began in 2020. The European Commission will now seek feedback on Apple’s offer and decide whether the commitments are sufficient to resolve the antitrust concerns. If accepted, these commitments would be in force for ten years, with an independent monitoring trustee appointed to ensure compliance. Failure to honor these pledges could result in significant fines for Apple. For a comprehensive understanding of this major shift in the digital payments landscape and its implications, you can read more about it on [TechCrunch](https://lnkd.in/dCQAqgiZ) and [Yahoo News](https://lnkd.in/dfDvK22a). #Apple #NFC #DigitalPayments #EUAntitrust #TechNews #Innovation #EuropeanCommission #ApplePay #TechRegulation

Apple offers rivals access to tap-and-go payment tech to resolve EU antitrust case.   Apple has promised to open up its tap-and-go mobile payment system to rivals as a way to resolve an antitrust case and avoid potentially billions in fines.   According to a recent article by The Independent Apple has promised to open up its tap-and-go mobile payment system to rivals, the European Union said Friday, as the U.S. tech company seeks to resolve an antitrust case and avoid a fine that potentially could be worth billions.   Apple proposed letting third-party mobile wallet and payment service providers access the contactless payment function on its iOS operating system, the EU said. The 27-nation bloc now is seeking feedback from “all interested parties" on the changes before making a decision on the case.   You can read the full article via the link in the comments section below:   #Payments #Fintech #Contactless

In my opinion, it's not just the payment function that Apple has opened up to foreign wallets via NFC under pressure from the EU. Rather, it is the eIDAS 2.0 legal regulation recently adopted by the EU for the introduction of an EU Digital Identity Wallet - EUDIW - which contains PID plus verifiable credentials and will also be used for digital payment transactions. This includes an extension to the European Economic Area.

Apple has taken a significant step towards a more inclusive digital payment landscape by allowing access to third-party mobile wallet and payment services in Europe. This strategic move comes as a response to EU pressures and competition concerns. With this development, Apple aims to address the concerns of the digital payment industry and foster a more competitive environment. #applepay #euregulation #digitalpayments

🚨 Apple's offer to open its tap-and-go mobile payments system to rivals is set to be approved by #EU antitrust regulators as soon as next month after it tweaked some of the terms, people familiar with the matter say. With #NFC access, banks and third-party payment apps can offer contactless payments directly on the iPhone without having to use the Wallet app or Apple Pay. This feature is available in the European Economic Area, and it lets EU users set a default non-Apple wallet app and default contactless payment provider that activates at tap-to-pay terminals or when the iPhone's side button is pressed twice. The European Economic Area (EEA) is the only area where #Apple has opened up NFC access, and developers in other countries cannot access the iPhone's NFC chip for tap-to-pay purposes. Customers will be able to use NFC-enabled apps from their banks and other payment providers with no involvement from Apple. Apple has long limited the NFC chip in the iPhone and other Apple devices to Apple Pay payments, which has prevented banks and other financial services from providing their customers with direct contactless payment solutions on the iPhone. Apple first announced plans to open NFC payment technology to third-party developers in Europe in January, and Apple made the change in order to address antitrust charges it was facing from the European Commission (EC). The EC has accused Apple of limiting competition by preventing rival mobile wallets from accessing the NFC chip, and Apple's decision to open it up will prevent fines and other penalties. More info: https://lnkd.in/eXPUKFme Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] 

🚨 Apple's offer to open its tap-and-go mobile payments system to rivals is set to be approved by #EU antitrust regulators as soon as next month after it tweaked some of the terms, people familiar with the matter say. With #NFC access, banks and third-party payment apps can offer contactless payments directly on the iPhone without having to use the Wallet app or Apple Pay. This feature is available in the European Economic Area, and it lets EU users set a default non-Apple wallet app and default contactless payment provider that activates at tap-to-pay terminals or when the iPhone's side button is pressed twice. The European Economic Area (EEA) is the only area where #Apple has opened up NFC access, and developers in other countries cannot access the iPhone's NFC chip for tap-to-pay purposes. Customers will be able to use NFC-enabled apps from their banks and other payment providers with no involvement from Apple. Apple has long limited the NFC chip in the iPhone and other Apple devices to Apple Pay payments, which has prevented banks and other financial services from providing their customers with direct contactless payment solutions on the iPhone. Apple first announced plans to open NFC payment technology to third-party developers in Europe in January, and Apple made the change in order to address antitrust charges it was facing from the European Commission (EC). The EC has accused Apple of limiting competition by preventing rival mobile wallets from accessing the NFC chip, and Apple's decision to open it up will prevent fines and other penalties. More info: https://lnkd.in/eXPUKFme Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] 

Finally: Apple iOS opened up #NFC channel to third parties! I remember since mid 2010s, we've had designed several NFC-based use cases and products in #Banking #Payment and #Authentication sectors, that were all limited by #iOS NFC exclusivity with #ApplePay. Given considerable smart devices and users' TAM on Apple/iPhone, that barrier led tech-providers (including my team and colleagues at the time) to collectively escalate to EU and finally after so many years of legislative efforts, the channel is now open this year to foster a democratic non-monopolistic competition and innovation. I hope that this extends to other channels, brands, and markets such as North America as well. This is the first major milestone! My personal takeaway is that we sometimes need to be more patient with technological trajectory and adaptation, and despite delays, to work hard toward what makes perfect sense and be proactive. #Digitization and #mobilepayments are yet other examples.

🚨 Apple's offer to open its tap-and-go mobile payments system to rivals is set to be approved by EU antitrust regulators as soon as next month after it tweaked some of the terms, people familiar with the matter say. With NFC access, banks and third-party payment apps can offer contactless payments directly on the iPhone without having to use the Wallet app or Apple Pay. This feature is available in the European Economic Area, and it lets EU users set a default non-Apple wallet app and default contactless payment provider that activates at tap-to-pay terminals or when the iPhone's side button is pressed twice. The European Economic Area (EEA) is the only area where Apple has opened up NFC access, and developers in other countries cannot access the iPhone's NFC chip for tap-to-pay purposes. Customers will be able to use NFC-enabled apps from their banks and other payment providers with no involvement from Apple. Apple has long limited the NFC chip in the iPhone and other Apple devices to Apple Pay payments, which has prevented banks and other financial services from providing their customers with direct contactless payment solutions on the iPhone. Apple first announced plans to open NFC payment technology to third-party developers in Europe in January, and Apple made the change in order to address antitrust charges it was facing from the European Commission (EC). The EC has accused Apple of limiting competition by preventing rival mobile wallets from accessing the NFC chip, and Apple's decision to open it up will prevent fines and other penalties. More info: https://lnkd.in/eXPUKFme Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]