Opportunities:
- Enabling competition, innovation and scale for wallets in Europe
- Issuers can bypass Apple Pay and pay no fee to Apple
- Boost to instant payments at POS (EU regulatory priority)
Challenges:
- Commitments exclude Apple Pay in-app and online payments
- No access to Secure Element (but DMA could change that)
- Driving consumer adoption of competing wallets not easy
Questions:
- Will new pan-European wallets emerge?
- How will EPI, PayPal, card schemes, white label apps leverage this opportunity?
- Will Apple eliminate its Apple Pay fee to reduce incentives to compete?
Europe is at the forefront in fostering innovative, efficient and competitive payments. Will European Commission inspire other authorities to do the same?
Comments and ideas are welcome.
Link to LinkedIn post