UK Finance Backs CMA Move to Open Apple NFC for Digital Wallet Competition

UK Finance has formally backed the Competition and Markets Authority’s (CMA) efforts to open up digital wallet access on mobile platforms. For fintech professionals, this move signals a potential shift in the UK’s mobile payments landscape, as the trade body pushes for Near Field Communication (NFC) access on Apple devices to foster competition and innovation.

What was announced

UK Finance, representing over 300 firms across the financial services sector, issued a response to the CMA regarding measures to improve competition within mobile platforms. The core of the response focuses on the restrictive nature of digital wallet access, specifically highlighting the need for third-party developers to access NFC functionality on Apple’s operating systems. This technology is the gatekeeper for contactless payments, and currently, access is tightly controlled by the hardware provider.

The trade body argues that opening this access is essential for creating a more resilient digital payments ecosystem. By reducing reliance on a single wallet provider, firms would be empowered to bring new, proprietary payment solutions to the UK market. UK Finance specifically pointed to the precedent set in Europe, where regulatory intervention has already moved toward providing free access to NFC technology. The response emphasizes that digital wallets are no longer a niche feature but are becoming the primary way people pay, making the underlying technology a critical infrastructure point for the wider financial industry.

The organization intends to work alongside the CMA and its member firms to ensure that these proposals translate into effective practical access. The goal is to establish a level playing field where multiple providers can compete directly on mobile hardware. This would allow banks and fintechs to offer their own integrated payment experiences without the limitations currently imposed by platform-specific restrictions, ultimately increasing consumer choice in the UK market.

"Opening access to NFC functionality on Apple's operating systems will support innovation, increase consumer choice, and reduce reliance on a single wallet provider. That will help create a more resilient digital payments system and enable firms to bring new payment solutions to market."

UK Finance spokesperson

The companies involved

UK Finance serves as the collective voice for the banking and finance industry in the United Kingdom. Representing more than 300 firms, the trade body covers a broad spectrum of the market, including global investment banks, retail lenders, and emerging fintech innovators. The organization plays a central role in shaping policy, engaging with regulators like the CMA, and advocating for standards that impact the domestic financial services landscape. Its members range from the largest high-street banks to specialized payment processors, all of whom have a vested interest in the evolution of digital payment standards.

Apple, one of the world’s most influential technology companies, maintains a significant grip on the UK mobile market through its iOS ecosystem. Its proprietary payment solution, Apple Pay, has historically enjoyed exclusive access to the NFC chip on iPhones for contactless payments. This vertical integration has been a point of contention for financial institutions seeking to offer competing wallet services. As the market shifts toward mobile-first transactions, Apple’s control over the hardware layer has placed it at the center of global antitrust scrutiny. The company’s influence extends beyond hardware, as it manages the software environment that dictates how financial services are delivered to millions of UK consumers.

What FF News has reported before

FF News has closely followed the escalating tension between big tech platforms and the UK’s financial sector. Recently, we covered how Revolut Backs CMA Move to Open Apple NFC Access for UK Fintechs, highlighting that the push for open access is not limited to traditional banks. UK Finance has also been active in broader regulatory discussions, as seen when UK Finance Urges Global Regulatory Reform Ahead of 2027 G20 Presidency.

While Apple faces pressure in the UK, it continues to expand its payment footprint globally. We previously reported on how Apple Pay Launches in India: Axis Bank Customers Gain Secure Contactless Payments. Additionally, the company has sought to deepen its utility for small businesses through partnerships, such as when Square and Apple Partner to Streamline Local Business Presence on Apple Maps.

What this means

This announcement signals that the "walled garden" approach to mobile payments is under its most significant threat yet in the UK. By explicitly calling for free NFC access, UK Finance is challenging the lucrative fee structures and data control currently held by platform owners. If the CMA follows through, the immediate pressure will fall on Apple to decouple its hardware from its payment software. This would likely trigger a wave of bank-branded wallets, potentially fragmenting the user experience but significantly lowering the barriers to entry for fintechs. The open question remains whether consumers will actually switch away from the convenience of native wallets once third-party alternatives are available.