Apple announced a lot of interesting new features during its WWDC conference in June. And among these was Apple Pay Later, a split payment service. In the USA, this service allows you to pay for purchases in four payments over six weeks, without interest.
At the moment, it is not known when the service will be accessible in other countries. But in Uncle Sam's country,Apple Pay Latercould cause problems for Apple.
Indeed, as reported by the Financial Times, Rohit Chopra, director of the Consumer Financial Protection Bureau, a regulatory body for consumer protection, expresses his concerns about the entry of tech giants into deferred payments .
He explains that his agency“should look very carefully at the implications of Big Tech entering this space. »The regulator would, for example, examine“if it can actually reduce competition and innovation in the market. »
The question of the use of user data is also at the heart of these concerns. According to Chopra, any tech giant that controls an operating system will have unique advantages in leveraging data as well as e-commerce.
The U.S. regulator plans to release a report on deferred payments this fall, along with regulatory actions that could be taken.
Apple, for its part, has already reacted.“We are pleased to offer customers a choice that prioritizes their financial health and privacy with Apple Pay Later, and we look forward to working with the CFPB to answer any questions they may have.”, indicated a representative of the Cupertino firm, cited by the FT.
In Europe, Apple Pay is already in the sights
In Europe, Apple does not yet offer its Apple Card or Apple Pay Later services. But the firm's payment service, Apple Pay, is already in theviewfinder of the European Commission.
In May, the Commission sent a statement of objections to Apple. For what ? Because on iPhone, only Apple Pay can use NFC function for payments.
“For the purposes of integrating European payments markets, it is essential that consumers benefit from a competitive and innovative payments landscape. We have evidence that Apple has restricted third-party access to key technology needed to develop competing mobile wallet solutions on Apple devices., declared Margrethe Vestager, executive vice-president in charge of competition policy.“In our statement of objections, we considered, on a preliminary basis, that Apple could have restricted competition, to the benefit of Apple Pay, its proprietary solution. If confirmed, such behavior would be illegal under our competition rules. »
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By : Keleops AG
