Link: 10 years later, Apple Pay is amazing — and about to change

Launched in 2014, Apple Pay promised to revolutionize how we pay for things. It utilized NFC technology, allowing payments with a single tap, expanding its usage to the Apple Watch and beyond.

Today, Apple Pay is accepted at over 85% of US retailers and has significantly simplified the payment process. Its widespread adoption exemplifies Apple's knack for dominating the tech industry.

Despite its success, Apple Pay has been tightly controlled, limiting other developers from integrating tap-to-pay features. This restriction aligns with Apple's broader strategy to maintain system security and maximize profit through processing fees.

The system's control, however, has drawn criticism and even prompted an antitrust case by the US government. Critics argue the restrictions aren't just about security, but also about maintaining a monopoly on payment systems within Apple devices.

With impending US antitrust actions and new EU regulations, Apple is set to open NFC access to third-party developers in iOS 18.1. This change could transform Apple Pay from just tap-to-pay to tap-to-everything, integrating payment functions with digital IDs, keys, and more.

Opening NFC access could lead to innovative uses but also potential chaos if execution lacks coherence. This shift will test Apple's ability to balance user experience with increased third-party involvement. #

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