Apple will allow developers access to its NFC technology, avoiding an EU fine

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So all that stuff about Apple protecting users doesn't hold up to missing out on profits. I thought Apple would have held out longer.

At what point does antitrust become protectionism? The EU loves to make these sweeping mandates in the name of consumer choice, when the result will be a worse product for everyone.

I'm a little confused what this means in practice vs what's there now.

I can add a CCard to my apple wallet and make it the default payment method. Does that involve Apple? I can also add public transportation passes and choose which one is the default. Does that involve Apple?

I do get that the Apple CCard itself seems to get special treatment in the Wallet but I'm not sure what else.

Note: I'm for more options. I don't like the idea that Apple and Google are inserting themselves between people and nearly every business. I'm just curious what you all envision seeing come out of this (positive examples)

When you use Apple Pay, Apple has agreements with the issuing banks for those cards and they get a % of every transaction you make.

Having to give up monopoly control over NFC API means the banking apps will probably offer tap to pay directly instead, so Apple will lose some profit.

I do think in the long term, this will mean lower merchant fees for customers, as Apple will lose leverage and probably have to reduce instead of continually increase the % they demand from banks.