U.K. Regulator Pushes for Lower Apple Pay Fees, Easier Access
By Michael Hennessey
The U.K. competition regulator said it is seeking to loosen Apple's control of contactless payments by reducing fees and removing technological barriers for its rivals.
The Competition and Markets Authority said Tuesday that its proposals would substantially lower access fees and ease access to Apple's contactless technology.
"We have heard that high fees, strict terms, and technical restrictions relating to Apple's contactless technology make it too difficult for challengers to innovate and compete," said CMA Chief Executive Sarah Cardell.
The popularity of contactless payments has soared and now accounts for 39% of all payments, compared with 3% a decade ago, the CMA said. Over 60% of adults use a digital wallet, with Apple Wallet the most popular in the U.K., the regulator added.
The CMA is consulting on the proposals until Nov. 17 before making a final decision.
Apple said developers are already able to offer contactless payments in their apps through the NFC platform--a short-range wireless communication system--which allows it to maintain security standards.
"We do not believe the CMA should require Apple to adopt an approach with lower privacy and security protections. We will continue to engage constructively to reach an outcome that is in the best interest of our users," Apple added.
U.K. fintech Revolut welcomed the CMA proposals and said it would work with the regulator "to ensure the final framework delivers real competition for U.K. consumers".
Write to Michael Hennessey at michael.hennessey@wsj.com
(END) Dow Jones Newswires
October 20, 2026 07:20 ET (11:20 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
What’s Ahead for Stocks This Quarter—and Where to Invest
4 Stocks to Buy for the Long-Term While They’re Still Undervalued
Are TIPS ETFs the Best Way to Fight Inflation?
10 Best Blue-Chip Stocks to Buy for the Long Term
United States