Apple’s iPhone software has been revamped for all users in the European Union in recent weeks. One of the changes waiting to be implemented is opening up the tap-and-go mobile payment system to competitors. And now we know when it’s coming. At the earliest he will be in May.
The Apple iPhone’s Wallet feature is losing exclusive access to the NFC chip.
This is according to a new report from Reuters, who said the changes “are expected to be approved by EU antitrust regulators as early as next month after adjusting some conditions.”
As always, changes made in response to EU Digital Markets Law will only apply to users within the EU, but as governments in the US, UK and other countries consider introducing similar changes. I’m sure we’re monitoring it closely. their people.
Currently, iPhones only allow tap-and-go payments through the Wallet app, but by opening up the phone’s near-field communication chip, Apple plans to allow other apps to access this feature directly.
So users will be able to select the app as their default payment app, and banks and other payment providers will be able to use its payment system without Apple being involved as an intermediary. This also means that when you touch-in and touch-out at a subway station, for example, payments made through the transit system, which are currently made via Apple Pay, may instead be transferred to the transit company. It could also mean.
This would likely mean lower fees paid to Apple compared to now, but it could also lead to less safety, or at least the perception of safety.
Apple Pay is a secure and efficient system that has built trust among iPhone users since it was first introduced on the iPhone 6, for example, in 2014. It was later introduced to the Apple Watch, Mac, and iPad.
Some users may not feel the same level of trust in public transport, and may, for example, be reluctant to trust any more in an app that has access to potentially withdraw funds from their account. maybe.
Of course, just because there’s a change doesn’t mean users have to accept it, but if banks are saving money by not paying fees to Apple, they should encourage users to switch to apps instead of Apple Pay to pay. Definitely encourage it. .
Reuters said the date by which the European Commission approves this feature is still subject to change, adding: “The European Commission aims to accept proposals by the summer, with May being the most likely.” “It’s expensive, but the timing may still change as we wait for Apple’s response.” Reveal final technical details. ”
