11 July 2024
- This is a huge win for consumers, businesses and innovation
Today the European Commission announced that they have come to an agreement with Apple on opening the contactless payment technology on iPhone for other mobile wallets. For Vipps MobilePay the agreement is a significant win after a years-long battle for free competition in the mobile payment space.
Since the launch of Apple Pay in 2014, Apple has prevented access to other mobile wallets to the NFC chip which enables contactless payments on iPhones. Vipps MobilePay has provided insights to the European Commission, both in a hearing in February 2023 and through comments on the proposal Apple put forward in January 2024.
“The agreement between Apple and the European Commission is very positive and gives us the opportunity to compete at equal terms with Apple and other providers. Apple’s opening for other mobile wallets is very good news for consumers, businesses, and innovation. This is a battle we have fought for a long time, and this is truly a big day for us,” says Rune Garborg, CEO of Vipps MobilePay.
In the agreement Apple has agreed to provide users the choice of preferred payment app, with easy access to FaceID and the right-side button that easily opens the preferred app in the payment situation. Apple will still hold the key to access to the iPhone and are approving the solutions that want to come in as an alternative to Apple Pay.
“The agreement between Apple and the European Commission is very positive and gives us the opportunity to compete at equal terms with Apple and other providers. Apple’s opening for other mobile wallets is very good news for consumers, businesses, and innovation. This is a battle we have fought for a long time, and this is truly a big day for us,” says Rune Garborg, CEO of Vipps MobilePay.
In the agreement Apple has agreed to provide users the choice of preferred payment app, with easy access to FaceID and the right-side button that easily opens the preferred app in the payment situation. Apple will still hold the key to access to the iPhone and are approving the solutions that want to come in as an alternative to Apple Pay.
“The agreement between Apple and the European Commission is very positive and gives us the opportunity to compete at equal terms with Apple and other providers. Apple’s opening for other mobile wallets is very good news for consumers, businesses, and innovation. This is a battle we have fought for a long time, and this is truly a big day for us,
Rune Garborg.
CEO Vipps MobilePay
“Now it’s up to Apple to abide by the agreement with the European Commission. We expect and anticipate that they will follow the agreement. However, it is not before we or another digital wallet succeed in launching a competing solution to Apple Pay on iPhones that we can say that the market is truly open,” says Garborg.
For Vipps MobilePay this development opens a new market and new opportunities for the company. Even though online shopping is rapidly increasing, majority of all transactions are still in-store.
“It is important for us to be present in all payment situations, and we will now finally be able to launch a solution for in-store that is simplifying payments for our 11.6 million users. Our ambition is to be the leader in contactless payments in the Nordics, and we are working full speed to build a solution that is user-friendly and has competitive transaction costs for merchants. We have an ambition to launch a solution by the end of 2024,” says Garborg.
For Vipps MobilePay this development opens a new market and new opportunities for the company. Even though online shopping is rapidly increasing, majority of all transactions are still in-store.
“It is important for us to be present in all payment situations, and we will now finally be able to launch a solution for in-store that is simplifying payments for our 11.6 million users. Our ambition is to be the leader in contactless payments in the Nordics, and we are working full speed to build a solution that is user-friendly and has competitive transaction costs for merchants. We have an ambition to launch a solution by the end of 2024,” says Garborg.
