Apple may be forced to open up the tech that powers Apple Pay to banks and other competitors

Apple may be forced to open up the tech that powers Apple Pay to banks and other competitors

The EU is considering forcing smartphone manufacturers to share information about their wireless payment technology, according to a report seen by Bloomberg.

The proposed laws wouldn't specifically target Apple, but the report mentions an ongoing antitrust investigation into Apple Pay.

Apple Pay and other wireless payment services rely on Near Field Communication (NFC) technology.

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Apple may be forced to open up the technology that powers its Apple Pay contactless payment service to other companies, according to an EU report obtained by Bloomberg.

The report is due to be put forward next week, and proposes new laws which would stop smartphone manufacturers from concealing information about wireless payment technology in both smartphones and wearable devices.

The upshot is that banks and other providers would be able to offer contactless