Samsung Pay to Become Available on iPhone... Apple "Opens Payment Chip"

First Implementation in US, UK, Japan
Technically Possible with Samsung Pay
No Mention of Korea or EU

The day when Samsung Pay can be used on the iPhone has come much closer.

On the 14th (local time), Apple announced that starting from iOS 18.1, the new operating system for the iPhone, it will open the iPhone's payment chip to external access. Accordingly, in some countries including the United States, it is expected that from as early as the fourth quarter, users will be able to use payment methods other than Apple Pay on the iPhone.

Apple CEO Tim Cook [Photo by AFP]

Apple has allowed only Apple Pay on its devices such as the iPhone. It is a 'tap-and-go' technology where payment is made by holding the device near the payment terminal. This is a Near Field Communication (NFC) payment method, but Apple has not opened it up so far, citing security reasons.

Apple plans to open this up and allow other external payment methods as well. The target countries include the United States, the United Kingdom, Australia, Brazil, Canada, Japan, and New Zealand. The EU and South Korea were not mentioned. In the case of the EU, this appears to be because it requires the technology to be provided free of charge.

However, external companies using the NFC chip will have to pay a fee. The scale of the fee was not mentioned. Technically, Samsung Pay and Google Pay will also be able to be used on the iPhone. The scalability is also good. With this technology, apps for public transportation cards, work badges, home and hotel keys, and more can also be created.

The new software iOS 18 is scheduled to be released next month along with the unveiling of the iPhone 16, and the first update version, iOS 18.1, is expected to be released around the fourth quarter.

Earlier last month, Margrethe Vestager, the EU Executive Vice President in charge of competition, declared, "Apple has promised to allow competitors access to the iPhone's 'tap-and-go' technology. This access will be provided free of charge to competitors," and announced the conclusion of the investigation into Apple Pay (for antitrust violations). The Commission added that if the promise is not fulfilled, fines of up to 10% of annual total revenue and enforcement penalties of 5% of daily revenue may be imposed.