Fintech
Apple Opens Up NFC Technology to Avoid EU Fines
July 12, 2024
Written by FinTech Alliance in Financial Technology
Apple has decided to open its Near Field Communication (NFC) technology to third-party suppliers, thus avoiding heavy sanctions from the European Union.
The move allows other companies to access and use Apple’s NFC capabilities, which were previously limited to Apple services like Apple Pay. The move is in line with EU regulations that promote competitive and open markets, potentially increasing innovation and consumer choice in mobile payments and other NFC-enabled services.