Apple’s iPhone software has been transformed in recent weeks for all users in the European Union. One of the changes waiting to be implemented is the opening of the “tap-and-go” mobile payment system to competing companies. And now we know when it will happen – as soon as May.
Apple iPhone’s Wallet feature is about to lose exclusive access to the NFC chip.
That’s according to a new Reuters report, which says the change “is expected to be approved by EU antitrust regulators as early as next month after changing some terms, people familiar with the matter said.”
As always with changes in response to the EU Digital Markets Act, this only applies to users in the EU, but there is no doubt that the governments of the US, UK Uni and elsewhere are closely monitoring the introduction of similar changes for their citizens.
Currently on the iPhone you can only use instant payments through the Wallet app, but by opening the Near Field Communication chip on the phone, Apple will allow other apps to directly access the functionality.
This will allow users to choose an app as their default payment app, allowing a bank or other payment provider to use the payment system without Apple being involved as an intermediary. It could also mean that payments on public transit systems, which currently go through Apple Pay if you enter and exit at the subway station, for example, could be rerouted to the transit company.
This will likely mean a reduction in fees paid to Apple compared to today, but it could also lead to a reduction in security, or at least the perception of it.
Apple Pay is a secure and efficient system that has gained the trust of iPhone users, for example since its introduction on the iPhone 6 in 2014 and later on the Apple Watch, Mac and iPad.
Some users may not feel the same level of trust in a public transportation company, and they may be reluctant to trust more apps that have access to withdraw funds from their accounts , For example.
Of course, users are not obligated to accept a change just because it exists, but if banks save money by not paying Apple a commission, you can be sure they will encourage users to switch to their apps for payments instead of Apple Pay. .
Reuters said the European Commission’s approval date for the feature could still change, saying: “The Commission aims to accept the offer by summer, with May being the most likely month, although the timeline can still change while waiting for Apple to work. the latest technical details.
