Britain's antitrust regulator announced proposals on Tuesday aimed at reducing Apple's control over contactless payments. The Competition and Markets Authority (CMA) is urging Apple to lower fees and lift technical barriers to help rival financial services compete more effectively with Apple Pay.
According to the CMA, contactless transactions now comprise 39% of all payments in Britain, up significantly from 3% a decade ago, with digital wallets used by more than 60% of adults and Apple Wallet ranking as the most popular.
CMA Chief Executive Sarah Cardell stated that high fees, strict terms, and technical restrictions have hindered innovation and competition. Digital bank Revolut supported the move, while an Apple spokesperson defended the company's approach, arguing that its existing secure element technology protects user privacy and security.
The CMA is accepting feedback on its proposals through November 17 before reaching a final decision.