Apple is opening NFC to third-party wallets
Apple’s decision to allow third-party wallets access to its NFC and Secure Element (SE) technology is a game-changer. This move will transform digital payments and digital identity management by enabling secure handling of cryptographic keys.
Opening up the SE creates room for competition, encouraging innovation. Even loyal Apple users may explore alternatives, potentially leading to a richer digital ecosystem with diverse options.
The most significant impact may be in digital identity rather than payments. Apple’s move could pave the way for digital IDs, driving licenses, and passports integrated into secure, verifiable digital wallets
The opened ecosystem will likely lead to new commercial opportunities, like secure, non-counterfeitable tickets in digital wallets. This broadens the utility of mobile wallets beyond payments.
While Apple benefits from enhanced security and user convenience, this move aligns with broader trends, such as the European Central Bank’s digital euro, positioning Apple as a crucial player in future digital infrastructures.
Visit the Forbes article for more information.