iPhone users in Europe will no longer have to use Apple Pay for mobile payments
CNN
Apple has yielded to pressure by European regulators to give rivals access to the contactless payments technology on iPhones, meaning that their users will no longer be limited to the Apple Pay mobile wallet.
Apple has yielded to pressure by European regulators to give rivals access to the contactless payments technology on iPhones, meaning that their users will no longer be limited to the Apple Pay mobile wallet. The development on the tap-to-pay technology underscores mounting regulatory scrutiny of Apple (AAPL) in the European Union, where it is also facing a potential huge fine for allegedly breaching the bloc’s landmark Digital Markets Act. The European Commission, the EU’s executive arm, announced this and other changes to Apple’s business practices Thursday, saying they would open up competition in mobile payments on iPhones. “iPhone users will (now) be able to use their preferred mobile wallet for payments in stores… while enjoying all the iPhone functionalities, including double click, tap-and-go and Face ID,” the EU’s competition chief Margrethe Vestager told journalists. The tech giant has until July 25 to implement the changes, which will remain in force for 10 years and apply throughout the 30 countries in the European Economic Area. Under the agreement, third-party mobile wallet developers will gain free access to the standard technology used for contactless payments with iPhones, known as near-field communication (NFC) technology. Apple will also allow iPhone users to choose which mobile wallet to make the default wallet on their phones.
Nippon Steel is expected to re-file its application for a national security review by American regulators of its $15 billion takeover bid of US Steel, sources familiar with the matter told CNN on Tuesday, buying Japan’s largest steelmaker an additional 90 days to close its acquisition of an American rival after political opposition emerged in an election year.
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