PayPal and Square Could Gain as EU Mulls iPhone Payments Rules

PayPal  (PYPL) – Get Report and Square  (SQ) – Get Report could be among the winners as the EU’s antitrust regulator mulls rules that could end Apple Pay’s monopoly on iPhone tap-to-pay services.

Following reports to the effect, the European Commission says it’s thinking about enacting rules that would give payment services a right of access to “infrastructure” such as the NFC chips placed within smartphones. These chips enable tap-to-pay services such as Apple Pay and Google Pay (formerly known as Android Pay).

The announcement arrives three months after the EC said it’s probing Apple’s  (AAPL) – Get Report App Store and Apple Pay policies.

In the case of Apple Pay, the EC said in June that it was concerned about Apple Pay being the only tap-to-pay solution allowed on iOS and iPadOS devices. The agency also said it was probing alleged restrictions on

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