Apple unlocks NFC: Third-party payment services will become available on iPhone

Apple has proposed to the European Commission to unlock NFC on its devices, allowing third-party payment services to use the technology on iPhones. This proposal will expand the possibilities of contactless payments - people will not have to limit themselves to just Apple Pay, as reported by MacRumors, citing Reuters.

According to the source, in May 2022, the EU competition authority opposed restrictions imposed by Apple on the use of its tap-and-go technology by competitors. These restrictions made it nearly impossible to use mobile wallets other than Apple Pay on the iPhone. As a result, developers of alternative payment services, mainly banks, found themselves at a disadvantage.

The antimonopoly regulator's statement, according to MacRumors, was lobbied by credit institutions. The European Commission is expected to meet with industry representatives in January 2024 to discuss Apple's proposal.

Note that the details of Apple's proposal are not disclosed. This decision could have a significant impact on the mobile payments market by giving users more choice in using contactless technology on their Apple devices.