Britain seeks to break Apples grip on contactless payments

LONDON, Oct 20 (Reuters) – Britain’s competition regulator said on Tuesday it was seeking to loosen Apple’s grip on contactless payments by proposing that the company lower fees and remove technical barriers, helping rival services compete with Apple Pay.

The Competition and Markets Authority said its proposals would result in “substantially lower access fees” and easier access to Apple’s contactless technology, opening the market to competition from digital banks and other providers.