NFC Forum to develop Digital Product Passport standard

The NFC Forum has announced that it is in the process of developing a Digital Product Passport (DPP) standard that would allow electronic goods manufacturers to use NFC tags and chips to provide merchants and consumers with “reliable and robust access to information on how a product can be reused, remanufactured, or recycled throughout its lifecycle”... More


US Consumer Financial Protection Bureau proposes new rule to oversee Big Tech digital wallet and payment app providers

Consumer Financial Protection Bureau (CFPB) logo

The US Consumer Financial Protection Bureau (CFPB) is proposing to subject large non-bank companies that offer consumer finance services including digital wallets and payment apps – such as Apple and Google – to the same regulatory scrutiny and oversight as banks, credit unions and other financial institutions... More



Apple Pay set to launch in Korea

Apple Pay logo

Apple Pay will go live in South Korea with support from Hyundai Card in the next few months, according to local media reports that cite statements from the two companies... More




European Parliament passes law that requires Apple to open up its NFC chip

European Parliament building with flags

The European Parliament has adopted the Digital Markets Act (DMA) that will obligate Apple, Google and other “gatekeeper” technology companies to allow app developers and third-party service providers access to device functionalities “such as near-field communication technology, secure elements and processors, authentication mechanisms and the software used to operate those technologies”... More


New EU law to force Apple to open up its NFC chip?

EU spokesperson Andreas Schwab speaking in front of EU stars logo

Negotiators from the European Parliament and the European Council have provisionally agreed the text of a Digital Markets Act (DMA) that will obligate “gatekeeper” technology companies such as Apple and Google to “allow app developers fair access to the supplementary functionalities of smartphones (eg NFC chip)”... More






What's New in Payments

Australian public hearing considers case for regulatory controls to ensure payment apps get access to smartphone NFC technology

Government of Australia logo

An Australian parliamentary committee has held a public hearing at which it heard evidence from representatives of leading Australian banks, payment services providers and other financial bodies on regulatory issues including whether companies such as Apple should be mandated to allow third-party payment apps access to a smartphone’s NFC chip... More





What's New in Payments

Bank of England sets out core principles for digital pound

Financial inclusion, creating a competitive ecosystem, comparison with other payment innovations, user privacy and monetary and financial stability will be the five core principles that guide the Bank of England’s future exploration and development of a central bank digital currency (CBDC) in the UK, the financial institution has revealed... More