{
  "id": 15729392,
  "title": "Britain seeks to break Apple’s grip on contactless payments",
  "url": "https://urgent.news/2026/10/20/britain-seeks-to-break-apples-grip-on-contactless-payments",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-20T10:12:27.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/stock-market-news/britain-seeks-to-break-apples-grip-on-contactless-payments-4959380"
  },
  "original_language": "en",
  "account": "The Competition and Markets Authority (CMA) of Britain is seeking to loosen Apple's grip on contactless payments by proposing measures aimed at lowering fees and removing technical barriers. These changes would help rival services compete more effectively with Apple Pay. The CMA's proposals would result in substantially lower access fees and easier access to Apple's contactless technology, opening the market to competition from digital banks and other providers. This is less stringent than the measures imposed by the European Union in 2024, which included granting third-party wallet developers free access.\n\nCMA Chief Executive Sarah Cardell stated that the proposals would create more opportunities for innovation and choice, as well as boost Britain's important fintech sector. She emphasized that high fees, strict terms, and technical restrictions make it difficult for challengers to innovate and compete. By removing these barriers, the CMA aims to facilitate the development of new products and services in areas such as payment apps, digital IDs, travel passes, and digital keys.\n\nThe CMA is currently consulting on the proposals, which will be in effect until November 17, before making a final decision. Contactless payments have experienced rapid growth, accounting for 39% of all payments, compared to just 3% a decade ago. Over 60% of adults in Britain use a digital wallet, with Apple Wallet being the most popular. Apple allows developers to offer contactless payments through NFC and its secure element, ensuring sensitive data remains protected by high security standards.\n\nApple maintains that the CMA should not require it to adopt an approach with lower privacy and security protections. The company stated that it will continue to engage constructively to reach an outcome that benefits its users.",
  "summary": null,
  "key_points": [
    "CMA seeks to loosen Apple's grip on contactless payments in Britain.",
    "Proposals include lower access fees and easier access to Apple's contactless technology.",
    "CMA aims to boost fintech sector and innovation with removed barriers."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "CNA - Business",
        "title": "Britain seeks to break Apple's grip on contactless payments",
        "url": "https://urgent.news/2026/10/20/britain-seeks-to-break-apples-grip-on-contactless-payments-15731325",
        "published": "2026-10-20T10:05:44.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}