The European Union is considering new regulations that may require Apple to provide its competitors with payment technology built into the iPhone .
According to a document obtained by the media, the EU’s new regulations will prevent mobile device manufacturers from restricting the use of near field communication technology (NFC) embedded in other devices such as smartphones and smart watches.
Near field communication technology (NFC) can process wireless signals, allowing users to use their own mobile devices instead of credit or debit cards to make payments on the devices on the store’s terminal.
Although Apple’s name is not mentioned in the document, currently iPhone and Apple Watch users can only make payments with NFC technology through Apple Pay. Banks and other competitors complained that they want the same payment functions in the applications of their products, but Apple does not allow them to use the technology chip.
The EU will publish a report next week, which will be part of a package of policy recommendations. It also includes footnotes to a competition case initiated by the European Union’s antitrust authority in June to assess whether Apple unfairly prevented other vendors from using “tap-and-go” on their smartphones. “Features.
As of press time, spokespersons for Apple and the European Commission declined to comment.
Since the introduction of NFC technology on the iPhone in 2014, Apple has restricted the chip to its Apple Pay service. Apple has previously stated that it restricts user access as part of the system that encrypts user bank card information. Apple said that allowing competitors’ mobile payment applications to access NFC chips that are separated from Apple’s additional security layer may increase the risk of fraud and other security breaches.
The European Union stated in the document that any regulations will “fully consider the potential security and other risks that such visits may bring,” adding that it will clarify standards and determine who should be granted access and under what conditions. Any EU legislation will follow German regulations earlier this year, requiring operators of digital currency infrastructure to open access channels to competitors at a reasonable cost.
The European Commission is studying how to strengthen the supervision of technology companies that provide financial services.
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