Apple's Contactless Payment System Under Scrutiny by UK Competition Regulator

06:55 AM EDT, 10/20/2026 (MT Newswires) -- Apple (AAPL) is under pressure from the UK's Competition and Markets Authority to loosen restrictions and fees on the contactless payment function on its smartphones, the regulator said Tuesday. The aim is to allow UK fintech firms and other businesses greater market access, the regulator said. The CMA said UK businesses had voiced concerns that Apple's current contactless payment access arrangements "may not be commercially viable, that fees, and other terms may be onerous." The CMA is consulting with experts on proposals expected to result in "substantially" lower access fees, require Apple to grant access through the main contactless technology standards, and change how UK businesses build digital products and services on Apple's iPhone, it said. Apple did not immediately reply to MT Newswires' request for comment.