Britain seeks to break Apple's grip on contactless payments
AAPL•Britain's competition regulator proposed that Apple lower fees and remove technical barriers to its contactless technology, making it easier for rival services to compete with Apple Pay. The CMA is consulting on the proposals until November 17 before making a final decision.
1. CMA proposes changes
The Competition and Markets Authority said its proposals would lead to substantially lower access fees and easier access to Apple's contactless technology. The measures are less onerous than those imposed by the European Union in 2024, which included free access for third-party wallet developers.
2. Apple cites security
The CMA said contactless payments account for 39% of all payments, up from 3% a decade ago, and that more than 60% of adults use a digital wallet. Apple said developers can already offer contactless payments through NFC and its secure element, and argued that the CMA should not require an approach with lower privacy and security protections.
