19 January 2024

News from the European competition authorities: – If Apple keeps their promise, this is a real game changer for mobile wallets

After a dialog between the EU commission and Apple, Apple now propose to allow access to its contactless payment technology on iPhone to other wallets than their own Apple Pay. Fair competition is essential for innovation, making this a big day for consumers, merchants and fintech.

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For several years, Apple has prevented access to the NFC chip which enables contactless payment for all mobile wallets other than Apple Pay. Now, the EU Commission has published proposed commitments from Apple, saying that the tech giant will open the technology for other mobile wallets, such as Vipps MobilePay.

This is fantastic news for us and all users of digital payments. We have been fighting this battle for a long time, and today we are applauding EUs consistent work to ensure open and free competition. The best solution should win the market.

Rune Garborg, CEO Vipps MobilePay

This is fantastic news for us and all users of digital payments. We have been fighting this battle for a long time, and today we are applauding EUs consistent work to ensure open and free competition. The best solution should win the market,” says Rune Garborg, CEO Vipps MobilePay.

 

The Nordic wallet company have contributed with insights to the EU commission, and in February, they attended a hearing in Brussels about the matter. One of the insights shared is empirical evidence stating that the NFC contactless technology is by far the easiest option for consumers, compared to QR-codes and BLE (Bluetooth) in payment terminals, which only had modest market share.

 

We are super optimistic and positive to Apples proposed commitments, but we will save the real celebration to when we see Apple fulfilling the commitments without hindrances and extra costs for developers. For other wallets like us to have a chance, it needs to be as easy to use for consumers as ApplePay,” says Garborg.