The UK Competition and Markets Authority (CMA) has proposed requiring Apple to open access to iPhone NFC contactless payments and significantly reduce associated fees. The regulator argues that Apple's current fee structure and rules are stifling innovation among UK fintech companies, noting that 39% of UK payments are now made contactlessly with Apple Wallet dominating usage. Unlike the EU, no competing wallet products have launched in the UK market. The CMA proposal would mandate Apple to open Wallet access to mainstream international contactless standards, with the regulator setting fee principles rather than directly dictating prices. Apple has opposed the measure, stating it should not be forced to adopt solutions with weaker privacy and security protections. The consultation period concludes on November 17.