Britain Seeks to Break Apple's Grip on Contactless Payments

3-line summary

• The UK's Competition and Markets Authority (CMA) proposed that Apple lower access fees and remove technical barriers so digital banks and other providers can compete with Apple Pay, saying the move would mean "substantially lower access fees" and easier access to Apple's contactless technology; CMA chief executive is Sarah Cardell.
• Apple said it already lets developers offer in-app contactless payments via NFC and provides access to the secure element that stores card data and encryption keys, and argued the CMA should not require approaches that lower privacy and security protections; the CMA's proposal is less stringent than a 2024 EU measure that required free access for third-party wallet developers.
• The CMA will take comments on its proposal until November 17, 2026, before making a final decision, with no implementation date yet set; contactless payments account for 39% of UK transactions, up from 3% a decade ago, and more than 60% of adults use digital wallets, with Apple Wallet the most widely used.

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