Close

The Netherlands Authority for Consumers and Markets probes NFC payments

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from any location or device.

Media Packs

Expand Your Reach With Our Customized Solutions Empowering Your Campaigns To Maximize Your Reach & Drive Real Results!

– Access the Media Pack Now

– Book a Conference Call

– Leave Message for Us to Get Back

Related stories

Shielding the Future: How Advanced Manufacturing Insurance Protects Against Modern Risks

The manufacturing sector is the backbone of many economies,...

Must-Reads for Anyone Who Wants to Understand Financial Markets

Understanding financial markets takes more than just a passing...

Top Financial Tools for Optimizing Business Liquidity in 2024 and Beyond

In reality, effective cash management is important so that...

The Netherlands Authority for Consumers and Markets (ACM) has launched an investigation into competition in smartphone-based NFC payments, examining whether limitations on access to NFC payments functionality on some devices violates domestic laws.

In a statement, ACM noted many phones use NFC technology for contactless payments, but some devices “only allows the software developer’s own payment app” to use the capability.

The ACM plans to investigate whether this breaks competition laws by hindering innovation and reducing user choice in payment apps.

If breaches are found, ACM says it will issue penalties including fines, though it added it would close the case if no problems are uncovered.

The regulator previously flagged the issue in a report on the Dutch payment market issued on 1 December, calling on major technology companies including Apple, Facebook, Amazon, and Ant Group to “maintain a level playing field for NFC payments services” on smartphones and smartwatches.

In June, the European Commission opened an investigation into allegations Apple restricted access to NFC on iPhones and refused competitors access to its Apple Pay service.

Margrethe Vestager, the EU’s competition chief, says: “It appears that Apple sets the conditions on how Apple Pay should be used in merchants’ apps and websites. It also reserves the ‘tap and go’ functionality of iPhones to Apple Pay. It is important that Apple’s measures do not deny consumers the benefits of new payment technologies, including better choice, quality, innovation and competitive prices.”

Apple said the company followed the law and embraced competition. It response it posted: “It’s disappointing the European Commission is advancing baseless complaints from a handful of companies who simply want a free ride, and don’t want to play by the same rules as everyone else.”

 

Latest stories

Related stories

Shielding the Future: How Advanced Manufacturing Insurance Protects Against Modern Risks

The manufacturing sector is the backbone of many economies,...

Must-Reads for Anyone Who Wants to Understand Financial Markets

Understanding financial markets takes more than just a passing...

Top Financial Tools for Optimizing Business Liquidity in 2024 and Beyond

In reality, effective cash management is important so that...

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from any location or device.

Media Packs

Expand Your Reach With Our Customized Solutions Empowering Your Campaigns To Maximize Your Reach & Drive Real Results!

– Access the Media Pack Now

– Book a Conference Call

– Leave Message for Us to Get Back