The UK Competition and Markets Authority (CMA) has proposed measures targeting Apple's near-monopoly on contactless NFC (Near-Field Communication) smartphone payments. The regulator says Apple's fees and rules are blocking UK fintechs and other businesses from innovating and growing, and it wants "substantially lower" charges and Apple to open up its closed standards.
The CMA stressed that the UK is a leading fintech hub that supports more than 360,000 jobs. It noted that 39 percent of all UK payments are now made using contactless technology, with Apple Wallet the most popular choice. Despite this, Apple's fees and access rules for NFC technology "risk blocking [fintech's] ability to innovate and grow" due to "onerous" terms. Unlike in the EU, the regulator said, not a single firm has launched a wallet-type product to compete with Apple's in the UK.
The CMA appears to want the same arrangement Europe has. In 2024, Apple committed to providing developers with NFC technology used for tap-and-go payments, along with iOS features such as Face ID authentication and double-click to pay. That agreement spared Apple an antitrust fine of up to 10 percent of its worldwide annual turnover. UK developers have access to these features too, but unlike in Europe, they remain within Apple's ecosystem and must pay fees.
The CMA is proposing that Apple open Wallet access "to the main contactless standards used internationally" so UK firms can roll out payment services already offered in the EU. Its evidence shows that "neither technology raises inherent security concerns." Rather than setting prices itself, the regulator would propose principles for determining rates, with charges expected to be "substantially lower" than current fees. The consultation closes on November 17, 2026, after which a final decision will be made. Apple has objected, saying, "We do not believe the CMA should require Apple to adopt an approach with lower privacy and security protections," and that it will continue to engage constructively.
Source: Engadget · Summarized by HeadlinesBriefing