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463 Apple To Open Payment Chip To Third Parties and Charge Fees

Slashdot
msmash @ Slashdot · 08/14/2024 14:00 EDT

Apple To Open Payment Chip To Third Parties and Charge Fees

Apple will begin letting third parties use the iPhone's payment chip to handle transactions, a move that allows banks and other services to compete with the Apple Pay platform. From a report: The move, announced Wednesday, follows years of pressure from regulators, including those in the European Union. Apple said it will allow developers to use the component starting in iOS 18.1, an upcoming software update for the iPhone. The payment chip relies on a technology called NFC, or near-field communication, to.

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