Foreign media: Apple will open iPhone tap payment function to third parties in EU market

News on April 21, according to foreign media reports, recently driven by the European Digital Market Act, the iOS 17.4 system released by Apple last month has brought a big change to iPhone users in the EU. The new system not only allows users to use third-party app stores, but also pay for apps and services outside the Apple App Store. This change breaks the long-standing closedness of the Apple ecosystem.

1. This series of opening measures is not voluntary by Apple, but is implemented under the mandatory requirements of the European Digital Market Act. Previously, Apple's "walled garden" strategy made it difficult for third parties to enter its ecosystem, especially when it comes to using the iPhone's NFC feature for payments, which Apple has always limited to its own Apple Pay service. However, this is expected to change next month.

2. The European Commission is expected to approve Apple’s proposal to open tap-to-pay NFC functionality in May, internal sources told Reuters. This means that third-party mobile wallets will also be able to use contactless payment functionality in the future. Apple first proposed the opening in January following a four-year antitrust investigation.
3. If the European Commission approves the plan, Apple may avoid being found to have committed wrongdoing and avoid huge fines that could be as high as 10% of its annual global turnover. It is worth mentioning that just last month, Apple was fined 1.84 billion euros for hindering competition from competitors such as Spotify through App Store restrictions. This is the first time Apple has been subject to antitrust penalties from the EU. Apparently, Apple hopes this is the last time it will be punished for similar issues.
4. The industry believes that the opening of the NFC payment function is not only a response to EU regulations, but also a major concession made by Apple under antitrust pressure.

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