Competition for Apple Pay: Apple must soon open iPhone for other wallets
Apple must open up NFC for other wallets and banking apps in Europe. This should get the mobile payment market moving.
(Image: Shutterstock/Pressmaster)
The EU has approved Apple's plan to open up the NFC payment interface of iPhones to other wallets. This was announced by the EU Commission on Thursday, meaning that the ongoing investigation against Apple is now complete. The company thus avoids the threat of a competition fine. As a result, it will soon be possible for other payment providers in the European Economic Area to bring their own wallets to the iPhone - with similar functions that were previously reserved for Apple Pay and Apple Wallet.
iPhone must support other wallets
Technically, this is solved - similar to Android - with Host Card Emulation (HCE). Other wallets can use this software solution to carry out NFC transactions at contactless checkout terminals in supermarkets, for example. Apple is keeping access to the "Secure Element", a special security chip, for itself and for Apple Pay. The EU has accepted this as HCE is already widely used and also simplifies implementation for other wallets that already offer an Android version, explained EU Competition Commissioner Vestager. Apple must implement its concessions by July 25.
Users will then be able to set other wallets in iOS as their default wallet. This should give third-party payment apps the same convenient functions as Apple Pay. Cards can then be called up by double-clicking on the iPhone side button or by approaching an NFC terminal. Payments can also be conveniently approved using Face ID.
Who is dropping out of Apple Pay?
The first payment services have already adapted to the opening and are likely to integrate corresponding functions soon. Whether banks will also jump on the bandwagon - and leave Apple Pay at the same time - remains to be seen. In any case, the Volksbanken have expressed interest in using the Girocard as a contactless payment method on the iPhone.
The European Central Bank has also given the green light for Apple's plans, noted Vestager. Possible new requirements with regard to the digital euro remain unaffected by this. The ECB had criticized Apple's NFC opening in April and classified it as not far-reaching enough. A digital euro requires access to the secure element of the iPhone.
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