announced<\/a>\u00a0Wednesday, follows years of pressure from regulators, including those in the European Union. <\/p>\n\n\n\nApple said it will allow developers to use the component starting in iOS 18.1, an upcoming software update for the iPhone. <\/p>\n\n\n\n
The payment chip relies on a technology called NFC, or near-field communication, to share information when the phone is near another device.<\/p>\n\n\n\n
The change will allow outside providers to use the NFC chip for in-store payments, transit system fares, work badges, home and hotel keys, and reward cards. <\/p>\n\n\n\n
Support for government identification cards will come later, the company said. Users will also be able to set a third-party payment app as their default system, replacing Apple Pay.\u00a0<\/p>\n\n\n\n
Apple had been reluctant to open up the chip to developers, citing security concerns. <\/p>\n\n\n\n
The change also threatens the revenue it generates from Apple Pay transactions. The company takes a cut of all payments made via the iPhone.<\/p>\n\n\n\n
Under the new approach, though, Apple will still require developers to pay \u201cassociated fees\u201d to use the NFC chip and enter into a \u201ccommercial agreement,\u201d according to Wednesday\u2019s statement. <\/p>\n\n\n\n
That ensures that only \u201cauthorized developers who meet certain industry and regulatory requirements and commit to Apple\u2019s ongoing security and privacy standards\u201d can access the system, Apple said.<\/p>\n\n\n\n
The Cupertino, California-based company plans to roll out the program in Australia, Brazil, Canada, Japan, New Zealand, the US and UK. <\/p>\n\n\n\n
It didn\u2019t mention the European Union, the region that has pushed for such a feature the most in recent months.<\/p>\n","protected":false},"excerpt":{"rendered":"
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