CMA proposes requiring Apple to open iPhone contactless payments to competing apps in the UK
Brokers With Payment Cards Could Get Their Own iPhone Wallets Under UK Plan
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The UK Competition and Markets Authority (CMA) has proposed requiring Apple to open its iPhone contactless payment technology to competing apps in the UK and provide access at lower fees. The proposal requires Apple to provide HCE, and the CMA expects fees to be significantly lower than Apple’s current fees, but has not announced a specific amount; the UK consultation will end on November 17. The CMA said contactless payments accounted for 39% of payments in the UK in 2025, up from 3% a decade earlier; a survey found that 62% of UK adults use digital wallets.
The UK proposal would allow competing apps to use HCE but still allow Apple to charge fees, unlike the EU arrangement granting competing wallets free access.
Source:Finance Magnates · financemagnates.com