<p>The United Kingdom's competition regulator has launched a formal consultation regarding proposals to grant third-party providers access to iPhone contactless payment technology. The initiative is intended to foster greater competition within the digital payments sector by enabling alternative services to operate more effectively on Apple devices.</p><p>By opening up access to this near-field communication (NFC) hardware, the regulator aims to remove existing technical barriers that currently favor Apple's proprietary payment system. The proposal is also designed to lower costs for businesses and consumers by encouraging a more competitive landscape for payment processors and digital wallets.</p><p>The move represents a significant regulatory step in addressing the dominance of integrated mobile payment ecosystems. The outcome of this consultation process will determine the next steps in potentially mandating broader accessibility for rival payment technologies on iPhones within the UK market.</p>
Source: Finextra
Original article: https://www.finextra.com/newsarticle/48618/uk-sets-out-proposal-to-open-up-access-to-iphone-contactless-payments?utm_medium=rssfinextra&utm_source=finextrafeed
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