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Apple Keeps Payments Tech for Itself and Europe Has Had Enough
- Banks, payments rivals say Apple restricts access to NFC chip
- German law may force Apple’s hand. A good start, banks say
Photographer: Thomas Trutschel/Getty Images
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Apple Inc.’s digital wallet is expanding in Europe just as regulators crack down on the tech giant’s move into financial services.
At issue is Apple’s role as a platform for other services. Spotify Technology SA already complained to antitrust regulators that Apple favors its own music service. Now banks and other payments providers say the company gives its Apple Pay service an unfair advantage by limiting access to a key component inside iPhones.