NEW YORK, Dec 12: Apple has reportedly extended an offer to allow competitors access to its tap-and-go mobile payments systems, particularly the Near-Field Communication (NFC) technology, in a bid to potentially resolve EU antitrust charges and avoid a substantial fine. The European Commission had accused Apple of restricting rivals' entry to its tap-and-go technology on Apple devices, hindering its ability to develop competing services. This move was seen as favoring Apple Pay, the company's proprietary mobile wallet for iPhones and iPads, and underscored Apple's dominance in the smart mobile devices and mobile wallet markets.

Insiders suggest that the European Commission is poised to solicit feedback from competitors and customers next month to assess the viability of Apple's proposal. However, the timing and confirmation of the market test's implementation remain subject to change. Both the EU watchdog and Apple declined to comment at the time of reporting, with Apple yet to respond before U.S. working hours.

Widely adopted across Europe, Apple Pay is utilized by more than 2,500 banks and over 250 fintechs and challenger banks, leveraging the NFC chip for tap-and-go payments on Apple devices. In a separate charge, Apple faces allegations of preventing music streaming companies like Spotify from informing users about alternative purchasing options outside the App Store, dating back to 2020. A decision from the European Commission on this matter is anticipated next year, potentially accompanied by fines and an order to cease the practice. Violating EU antitrust rules could expose companies to fines of up to 10% of their global annual turnover.