Revolut Backs CMA Move to Open Apple NFC Access for UK Fintechs

Revolut has backed the Competition and Markets Authority’s draft decision to force Apple to open its Near Field Communication (NFC) technology to third-party developers. For fintech firms, this move signals a potential end to the hardware monopoly on iOS devices, allowing non-Apple wallets to offer seamless contactless payments directly to UK consumers.

What was announced

The Competition and Markets Authority (CMA) has issued a draft decision that would require Apple to grant third-party digital wallet providers access to the NFC hardware on iOS devices via Host Card Emulation (HCE) functionality. Currently, Apple maintains exclusive control over the NFC chip for mobile payments, effectively mandating the use of Apple Pay for contactless transactions on iPhones. This regulatory shift aims to dismantle the technical barriers that have historically prevented fintech companies from offering their own integrated tap-to-pay solutions on the iOS platform.

Revolut has publicly supported this direction, viewing it as a necessary step for fostering genuine competition within the UK’s mobile payments ecosystem. The company argues that opening this infrastructure is vital for "payments sovereignty" and will allow domestic fintechs to compete on an equal footing with global Big Tech entities. The CMA’s proposal follows similar regulatory pressures in other jurisdictions, most notably the European Union, where Apple recently agreed to open NFC access to settle antitrust investigations. The UK consultation process will determine the final framework, which Revolut intends to engage with to ensure the resulting rules effectively lower the barriers to entry for third-party payment services.

"Revolut strongly welcomes the CMA’s decision to open NFC access via HCE functionality. Opening up this infrastructure is a critical step towards driving genuine competition and helping the UK’s payments sovereignty. The CMA’s direction creates a real opportunity for UK fintechs to compete on an equal footing with Big Tech, and we look forward to engaging with the CMA during the consultation to ensure the final framework delivers real competition for UK consumers."

David Tirado, Chief Commercial Officer at Revolut.

The companies involved

Revolut is one of the most prominent names in the global fintech sector, having grown from a digital-only banking alternative into a comprehensive financial "super-app." Headquartered in London, the company has expanded its footprint significantly, now boasting over 250 mentions in FF News coverage. Its product suite has evolved to include international transfers, stock trading, and cryptocurrency services, positioning it as a primary challenger to traditional retail banks. David Tirado serves as a Partner Chief Commercial Executive at the firm.

Apple, meanwhile, remains a dominant force in the global technology and payments landscape. Through its iOS ecosystem and the Apple Pay service, the company has established a massive user base for mobile transactions. While Apple has historically cited security and user experience as reasons for restricting NFC access to its own proprietary wallet, it has faced increasing scrutiny from regulators worldwide over anti-competitive practices. With over 100 stories in the FF News archive, Apple’s influence on the fintech sector is undeniable, particularly as it continues to expand its financial services offerings into new markets.

What FF News has reported before

FF News has tracked Revolut’s aggressive expansion and diversification across multiple sectors. Recently, the company moved beyond pure finance with the launch of Revolut Disrupts German Telecom Market with Launch of Revolut Mobile, offering data plans to its German customer base. The firm has also focused on loyalty and social impact, as seen in its Revolut and Eurostar Partner to Turn RevPoints into European Rail Travel initiative and its work to Revolut Partners with International Rescue Committee to Enable Global Humanitarian Donations. Meanwhile, Apple continues to push its payment rails into new territories, recently making headlines when Apple Pay Launches in India: Axis Bank Customers Gain Secure Contactless Payments.

What this means

This move by the CMA represents a significant challenge to the "walled garden" strategy that has protected Apple’s payment margins for years. If the draft decision becomes final, the competitive pressure on Apple Pay will intensify overnight. Fintechs will no longer be mere participants in an Apple-controlled ecosystem; they will be direct competitors for the "default wallet" slot on millions of devices. This raises a critical question for the industry: can third-party wallets offer a user experience smooth enough to lure consumers away from the convenience of a native system? For the UK, this is a test of whether regulatory intervention can truly level the playing field against entrenched Big Tech dominance.