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EU antitrust regulators seeking more info on Apple Pay

The European Commission announced on Wednesday that EU antitrust investigators are searching for additional details on Apple’s smartphone payment system, Apple Pay. This is an indication that the regulator is trying to plug any gaps in its allegations against the iPhone manufacturer.

A year ago, the EU antitrust authority alleged Apple conspired to make it hard for its competitors to establish competing solutions for Apple devices by limiting their access to its tap-and-go Near-Field Communication (NFC) technology, which is utilized for mobile wallets.

Also Read: Apple launches ‘buy now, pay later’ service in the US

“We can confirm the sending of requests for information,” a commission spokesperson said while declining to provide details.

Apple opted not to respond.

Apple has already mentioned the popularity of PayPal within its iOS smartphone OS as an alternative for users, along with rival MobilePay from Denmark, Swish from Sweden, as well as Payconiq from Belgium.

complainant Vipps and a mobile payment app from Norway claimed that NFC options are inefficient and uncompetitive.

It is rare for the commission to ask competitors and retailers for material now, three months afterward, Apple justified itself in an inquiry on February 14.

Following such hearings, the regulator normally makes its decision. If proven guilty of breaking antitrust regulations, the agency has the power to penalize Apple a maximum of ten percent of the company’s worldwide revenue.

Apple also debuted the “buy now, pay later” (BNPL) scheme in the United States in March, posing an imminent danger to the fintech industry, which is currently dominated by companies like Affirm Holdings as well as the Swedish payment provider Klarna.

With its “buy now, pay later” support, Apple is attempting to enter the loan industry. As a result, the corporation has established guidelines regarding how it will accept transactions. If you’ve been a loyal client in the past, this is one important consideration.

The Apple Pay Later service, which was introduced a year ago but is still under testing, will assess consumers based on their purchasing patterns in addition to which Apple products they now own.

Also Read: What is Apple’s rapid security response?

The service, which enables users to make purchases and spread-out payments over time, will also check to see if users have applied for an Apple Card credit card or any additional cards, they have associated with their Apple Pay account.

According to the firm, Apple Pay Later will enable customers to split expenditures into four installments spaced out over six weeks without any interest or fees. It will first be made available to a small number of users to bring it out to everyone in the upcoming months.

Suhani Jain

I am a student pursuing my bachelor’s in information technology. I have a interest in writing so, I am working a freelance content writer because I enjoy writing. I also write poetries. I believe in the quote by anne frank “paper has more patience than person

The US Citizens Can Now Finally Use the Apple Card

Leave a Comment / News, Product, Tech News / By Yashica Vashishtha

Apple finally launched its most anticipated Apple card on Tuesday. For now, it will only be available for the users in the U.S. The users can apply for the card directly from their Apple Wallet app on their iPhone. They do not have to wait for the physical card to arrive as they can use it virtually through the Apple Pay as soon they request for the card.

The new card is the digital-first card that the iPhone users will get, and it will even make the credits private for the users. According to Apple, no system will keep the record of from where and when a user has shopped and what amount did he pay, like, in the cash system, it will keep the credits anonymous. So the users don’t have to worry about their data being sold by the company. But the users can see their spendings and balance in the card through the Apple Card app. They can also keep the record of the cash backs they got and see where they spent their money in Apple Maps.

Apple has partnered with Goldman Sachs and Mastercard to design and process the card. There is no annual fee, cash advances fees, over the limit fees or late fees, that the user needs to pay to use the card. And moreover, according to the claims made by the company, it has got even lesser interest on the purchases. In fact, the company will be providing incentives and cash rewards to users for using the new card. The card is acceptable at every merchant accepting Mastercard.

The new card also renders some interesting features, like it changes colour for different types of spendings. For example, if a user is using the card for a restaurant bill, the card will turn orange. And if the spending is on entertainment, the card colour will be a mix of orange and pink. Apple has already started 3% cashback on purchase through the virtual card at selected merchants, including Uber and Uber Eats. With the physical card, the cashback will be 1%.

The new app to use the card is available for the users, who own an Apple 6 or a newer model running iOS 12.4. To use the app, you need to go to the Apple Wallet and tap on the (+) icon on the upper right corner on the screen. Then, a Continue button will appear along with a small description of the Apple Card. Upon tapping on the Continue button, a list of Card Type will appear, where you need to select Apple Card. Then you must verify and confirm your details by filling in the information and accept the Apple Card terms and conditions on the next screen.

After that, Apple will send you a description of the credit limit and interest rates based on your information, where you need to tap on Accept Apple Card. This way, the card will be ready for use.

Yashica Vashishtha

Yashica is a Software Engineer turned Content Writer, who loves to write on social causes and expertise in writing technical stuff. She loves to watch movies and explore new places. She believes that you need to live once before you die. So experimenting with her life and career choices, she is trying to live her life to the fullest.

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Apple Pay is the Next Payment Method Ride New York’s Subways

News, Tech News / By Yashica Vashishtha

Metro cards are over twenty years old, and it seems the time has come to say goodbye to them. From the time metro trains have been in existence, people have been using those cards and tokens to pay for their subway rides. But now it won’t be the only method for payment, as Apple has announced that people will be able to transit through metro by paying using Apple Pay instead of the MetroCard.

apple pay for nyc subway — Image Source: techhnews.com

Yes! To initiate the usage of Apple Pay for paying for the subway rides, Apple has announced that the very payment method is coming to Organizations Transportation Metropolitan Transportation Authority (MTA). The new terminals have already been installed at a different New York City subway stations, including Union Square and Grand Central, such that for now, the riders will be able to pay for their rides on the subway’s 4, 5, 6 line through the Apple Pay app.

Starting from Friday this week, the passage where usually the metro card and the tokens are scanned, people will see a digital rectangular panel enclosed in blue light attached to the bottom part of the turnstile. Over the panel, instead of the metro card, the riders can scan their iPhone and even the Apple watch.

There are some compatibility criteria that one would need to fulfil in order to use the Apple Pay for the transit. First of all the OS for the iPhone must be updated at least up to iOS 12.3, and the watchOS must be 5.2.1 version. Apple Pay will reflect the Express Transit feature which will be available for iPhone 6s and SE or later. Same for the Apple watch, only the Apple Watch Series 1, 2 and 3, using NFC will be able to offer the feature. The user needs to authenticate their debit or credit card with the Express Transit features, such that to make payment through the Apple Pay app.

The method to use iPhone and Apple watch is quite simple and similar to the usage of MetroCards. The rider needs to place their iPhone or the Apple watch against the digital screen on the turnstile, and when the light turns green, a message of ‘Go’ is flashed on it, and the metal arm will be unlocked for the rider to pass through.

The same feature has also been announced by the other tech giant Google on its payment app Google Pay, that too will start operating from 31 May in select subway stations for the specific subway lines. In fact, for the Google Pay, the riders just need to download the app and attach the payment methods to it, and they can easily pay through their phones without opening the app or even unlocking their phones.

Yashica Vashishtha

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