Apple is ready to open access to NFC on iPhone, but only in the EU

In order to avoid a large fine, Apple is ready to bypass Apple Pay and open access to payments through NFC, reports the Financial Times, referring to its own sources.

The newspaper notes that European regulators have multiple complaints against Apple's operations in the region regarding the company's compliance with local antitrust laws on business practices. The closedness of the payment ecosystem to third-party app developers is one of these complaints, but Apple is ready to open up access to NFC payments, according to a source.

Last year, European regulators accused Apple of distorting competition, alleging that the company forces app developers to use only the Apple Pay ecosystem for NFC payments. In January, the American company offered them a number of concessions in this area, which they are still discussing today.

Apple is expected to give iOS app developers free access to NFC and the right to use payments that bypass Apple Pay or Apple Wallet. Historically, the company has defended such a restriction, citing concerns about information security. Apple is expected to make corresponding concessions to third-party developers over the next ten years.

The source said the terms of the agreement with EU regulators will be published in a few weeks, unless regional authorities have new questions about Apple's proposed measures. A company can be fined up to 10% of annual revenue for violating European antitrust laws. Considering that Apple earned 383 billion dollars last year, if fined, the company will have to give up 38 billion dollars.

Apple, in its official comments to the Financial Times, did not elaborate, but emphasized that "ongoing negotiations with the European Commission include discussions in the region to allow third-party software developers in iOS applications without the need to use Apple Pay or Apple Wallet About the possibility of enabling contactless payments through NFC." It is noted that EU users will continue to be offered the Apple Pay system, which is now supported by more than 3,000 banks in the region.