The European Union has reportedly settled with Apple over its use of near-field communication system (NFC) to allow access for third-party payment platforms.
According to The Financial Times, Apple will give access for the next ten years but only on devices in the 27 member countries, and in return, the European Union will not fine the tech company.
The tap-to-pay function with NFC has been limited to Apple Pay so far and will remain so in all other markets. Three sources told The Times that the EU has been testing the new measures, but the report does raise a valid point that the mentioned timescale does not exactly fit with the idea of the Digital Markets Act.
The formal settlement is expected to be presented in the following weeks. Once this is completed, platforms and banks will be able to replace Apple Wallet with their own payment app without having users enter their cards and personal info in the Apple system.
Via