UK Regulator Proposes Requiring Apple and Google to Open In-App Payment Routing

According to the UK Competition and Markets Authority (CMA) on June 30, the regulator proposed new rules requiring Apple App Store and Google Play to allow developers to direct users to third-party payment methods. The CMA also proposed capping the "routing fees" charged by both companies at levels below the current maximum of 30%, with fees required to be justified by cost and value. Additionally, the CMA is considering mandating Apple to open NFC capabilities on iPhones, enabling UK fintech companies to offer wallet alternatives to Apple Wallet, including direct account payments and future digital currency options.
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