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Apple will open up payment chips to third parties and collect fees
After years of pressure from regulators, including the European Union, Apple (AAPL. O) announced on Wednesday that it would begin allowing third parties to use iPhone payment chips for transactions, a move that would put banks and other services in competition with the Apple Pay platform. Apple said it would allow developers to use NFC-powered payment chips starting with iOS 18.1, and users could also set third-party payment apps as the default system, replacing Apple Pay. However, under the new...
2024-08-14 16:41:50
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