EU antitrust regulators are poised to greenlight Apples proposal to grant access to its tap-and-go mobile payments system to competitors, a move that could be finalised as early as next month. Sources familiar with the matter revealed that Apple made adjustments to certain terms, paving the way for regulatory approval.The Settlement OfferApples proactive step to settle the four-year investigation is seen as an attempt to avert a formal finding of wrongdoing and mitigate the risk of a substantial fine, potentially up to 10% of its global annual revenue.Apples tap-and-go technology, known as near-field communication (NFC), enables contactless payments through mobile wallets. However, the European Commission had accused Apple of stifling competition for its Apple Pay mobile wallet by restricting rival mobile wallet app developers from accessing its NFC technology.In January, Apple proposed granting competitors free access to its NFC technology on iPhones, iPads, and other devices, bypassing the need to use Apple Pay or Apple Wallet. The offer included fair and non-discriminatory access criteria, along with additional functionalities like defaulting preferred payment apps, authentication features such as FaceID, and a dispute settlement mechanism.Refinement and ApprovalApple received feedback from rivals and customers, leading to revisions in some terms of the proposal. The amended offer entails a 10-year NFC access provision. The European Commission is gearing up to accept the offer, with May considered the most probable timeframe, though the final approval may depend on Apples completion of technical adjustments.Apples Recent Antitrust ChallengesThis anticipated approval follows Apples recent 1.84 billion-euro ($2 billion) fine by the EU for antitrust violations related to its App Store policies, particularly impeding competition from music streaming rivals like Spotify. This latest move signifies Apples ongoing efforts to navigate regulatory scrutiny and foster a more competitive digital ecosystem.
