© Reuters. EU flag and Apple Pay logo are seen in this illustration taken May 10, 2023. REUTERS/Dado Ruvic/Illustration
By Foo Yun Chee
BRUSSELS (Reuters) – Apple (NASDAQ:) has offered to let rivals access its tap-and-go mobile payments systems used for mobile wallets, three people familiar with the matter said, a move that could settle EU antitrust charges and stave off a possible hefty fine.
The EU competition enforcer last year charged Apple with curbing rivals’ access to its tap-and-go technology, Near-Field Communication (NFC), making it difficult for them to develop rival services on Apple devices.
The European Commission is likely to seek feedback next month from rivals and customers before deciding whether to accept Apple’s offer, the people said.
They said the timing of the market test and whether it will go ahead could still change.
The EU watchdog declined to comment. Apple was not immediately available for comment before U.S. working hours.
Apple Pay is used by more than 2,500 banks in Europe and over 250 fintechs and challenger banks. The NFC chip enables tap-and-go payments on iPhones and iPads.