UK regulator opens consultation on letting rivals use Apple's digital wallet technology
The UK CMA proposes requiring Apple to give payment providers access to NFC on iOS devices. The consultation runs until November 17, Seeking Alpha reports.
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what happened
The UK's Competition and Markets Authority has opened a formal consultation aimed at boosting competition in mobile payments by giving third parties access to Apple's digital wallet technology. According to Seeking Alpha, the regulator proposes a conduct requirement that would force Apple to open access to near-field communication, or NFC, on iOS devices.
The CMA says Apple controls the software and hardware needed for NFC and has historically reserved that access for Apple Pay and Apple Wallet. The regulator also argues that Apple's current fees are too high for many developers to enter and expand commercially. The consultation closes on November 17.
If adopted, the move could benefit fintech firms such as PayPal, Revolut and Monzo, as well as traditional banks. Seeking Alpha reports that Apple is expected to challenge the decision. Apple had not yet responded to the outlet's request for comment.
why it matters
For markets, this is a signal of possible regulatory pressure on Apple's platform fees. The outcome of the consultation could reshape competition in mobile payments and affect the outlook for fintech companies and banks.
market impact
Apple, PayPal: easier access for rivals could pressure Apple's platform fees and its payments business
tags
instruments
sources
- UK regulator starts process of opening up Apple's digital wallet to competitors — Seeking Alpha, 20 October 2026 at 15:14 UTC
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