Apple is proposing that they open NFC payment technology to developers in Europe in a Reuters statement.
NFC chips in Apple Watches and iPhones have been exclusive for services such as Apple Pay. Other financial services and banks have been unable to use them, but it’s looking to change in Apple’s recent proposal. The Cupertino-based company said that ‘commitments to provide third-party developers in the European Economic Area’ will make NFC contactless payments appear in their iOS apps, which will for the first time be separate from Apple Wallet and Apple Pay.
Apple’s offer comes after an attempt to address antitrust concerns by the European Commission. The EU organization claims that Apple has been stifling competition through limited NFC capabilities on their devices. Currently, the EU is awaiting feedback from customers and rival companies as to Apple’s proposal and will make a final decision based on this data and from the stakeholders.