Apple mobile wallet practices hurt competition, says EU regulators

Mobile wallet - Back of iPhone - Blue case

The European Commission’s preliminary findings were that the policies harmed competition. European regulators have notified Apple Inc. that its mobile wallet practices were, in their initial view, harmful to competition. The preliminary findings of the European Commission do not “prejudge the outcome” in antitrust investigations. The European Commission (EC) announced in a news release that it had advised Apple “of its preliminary view that it abused its dominant position in markets for mobile wallets on iOS devices.” The focus of the concerns expressed about the payment app had to do…

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More than 1 in 4 patients want to use mobile wallets for healthcare payments

Mobile wallets - Mobile Payments - credit card

A recent study showed that 28 percent of US patients would like to pay digitally or by app. According to the results of a recently conducted payments study, 28 percent of US patients would like to be able to make medical payments using mobile wallets or digital transactions. One of the biggest points of friction patients suffer in accessing medical care is in making payments. Certainly, the cost of care is a heavier burden, but the transaction methods available can also add substantial friction to a patient’s ability to conveniently…

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Mobile wallets using NFC technology need new regulations, says Dutch market authority

NFC technology - mobile wallet payments

The Netherlands Authority for Consumers and Markets wants updates to contactless technology access regulations. Dutch market authority Netherlands Authority for Consumers and Markets (ACM) is calling for new rules to control anticompetitive practices in NFC technology using mobile payments apps such as Apple Pay. The ACM is seeking changes to the rules following an access investigation it recently conducted. The ACM issued a media release in which it stated its concerns regarding NFC technology mobile payments apps access and making a call for a change in regulations. “The Netherlands Authority…

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PayPal mobile wallet transactions are the online leaders

Mobile Wallet - Person paying with phone

They are also gaining ground in-store, where they represent a quarter of phone-based transactions. Mobile wallet transactions had been slow to take off but received a shot in the arm during the pandemic, when consumers looked to contactless payment options. Now, PayPal is leading the way in transactions conducted online and is also gaining ground among in-store shoppers who are looking to their phones to complete their purchases. According to PYMNTS data, PayPal is the leader in virtually every digital payments category. The PayPal mobile wallet is leading the way…

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This year, UK mobile commerce will hit £2.27 trillion

UK mobile commerce - British Pounds

By the end of next year, m-commerce in the United Kingdom will have reached £2.73 trillion. By the end of 2021, UK mobile commerce will have reached the £2.27 trillion ($3.16 trillion) and will rise even further to reach £2.73 trillion by the end of next year, says a Kaleido Intelligence report for Payvision. This is occurring as consumers and businesses alike seek contact-free transactions in the pandemic. The report showed that 11 percent of all online shoppers around the globe are currently using mobile wallets at least once per…

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