Apple prepares legal response to UK push to open iPhone Tap to Pay
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View chart & analysis → - 1FT reports that Apple (AAPL) is preparing to oppose UK efforts to open iPhone Tap to Pay to competing wallets
- 2The UK Competition and Markets Authority (CMA) is expected to release a consultation paper soon, and Apple is likely to contest this in court
- 3While the direct impact is small, if the UK follows the EU, it would set a precedent for losing control in two major markets
So what's the key point?
The UK wants to allow other payment apps to be used on the iPhone instead of just Apple Pay. Apple says the immediate impact on its earnings will be small, but how much fees are set will be important moving forward.
Source TIKR +1 · View original ↗
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