Apple Pay will need to open up to a little more competition
In the wake of Epic’s major app store win against Google, Apple may be looking to open up some of its Apple Pay tech to mobile payment rivals. The iPhone maker has decided to make the offer rather than submit to regulation — or face a hefty fine.
NFC for the rest of us, or something
The EU competition regulator last year accused Apple of unfair competition because it prevents other companies in mobile payments from making use of the Near Field Communications (NFC) chip inside the iPhone to run their own services. This follows similar scrutiny in the US, where the Consumer Financial Protection Bureau (CFPB) is also looking at Apple’s mobile payments business.