UK Regulator Proposes Apple Lower Contactless Fees
Britain's competition regulator proposed that Apple lower fees and remove technical barriers for contactless payments. The move aims to help rival services compete more effectively with Apple Pay across the UK market.
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The United Kingdom's competition regulator proposed that APPLE INC lower fees and remove technical barriers for contactless payments on Tuesday morning, helping rival services compete. The move follows similar steps by the European Union in 2024 to open up mobile wallets for third-party developers. Contactless transactions now account for 39% of all payments in the country, up from 3% a decade ago.
