Apple is reportedly preparing to challenge the UK’s Competition and Markets Authority (CMA) over its dominance in mobile payments. The regulator is expected to propose requiring Apple to open the iPhone’s tap-to-pay technology to rival digital wallets, including those from PayPal and Revolut.
Apple controls access to the iPhone’s Near Field Communication (NFC) chip, which Apple Pay uses for contactless transactions. Banks and fintech firms have criticized Apple for restricting access and charging fees on transactions. If the CMA’s proposals are enforced, Apple could face fines of up to 10% of its global turnover for non-compliance.
The UK action follows similar antitrust scrutiny in other jurisdictions. Apple says its NFC restrictions are necessary to protect user security and privacy. The outcome of a potential legal fight could reshape competition in the UK’s digital payments market and set a precedent for other regulators.