Key Takeaways

  • Apple has made commitments to open up the iPhone's NFC hardware to third-party mobile payment apps in response to EU fair competition rules.
  • These commitments include granting access to NFC hardware through APIs, providing additional features for payment apps, and establishing dispute settlement mechanisms.
  • If Apple fails to comply with these commitments, it could face fines of up to 10% of its global turnover, which could amount to nearly $40 billion.