Apple has just released iOS 17.4 beta 1 to developers for testing purposes. The latest update arrived a few days after the company officially released iOS 17.3 to the public. iOS 17.4 will be one of the biggest updates as it will significantly change the App Store to comply with the EU’s Digital Markets Act. The latest beta build brings many features oriented toward the EU’s competitive policies. The latest iOS 17.4 beta 1 opens up the NFC chip on the iPhone to third-party apps for alternative payment methods.
Apple is opening the NFC chip on the iPhone to third-party banking and wallet apps with iOS 17.4
With the latest changes coming with the release of iOS 17.4, users can make payments from within the apps. Users can also choose an alternative payment method other than Apple Pay or the Wallet app. This will allow third-party payment services and banks to offer their solution for in-app purchases on Apple devices.
iPhone users will have the option to set a default app for payment purposes, including NFC payments. For instance, payments will be made through your desired app when the iPhone reaches the NFC terminal or when a user initiates the process through the side button. This means that tap-to-pay is no longer limited to Apple Pay, as users can use any banking app they want.
While the company is opening the NFC chip to third-party apps, Apple will place certain limitations. For instance, the apps using the iPhone’s NFC chip must comply with industry standards. The app must have a valid agreement with an authorized Payment Service Provider. This will allow the transactions to be secure.
The company is also making additional changes to the App Store. Note that the NFC will only be available for banking and wallet apps in the countries that come under the EU. We will share further details on the changes in Apple’s latest iOS 17.4 beta 1, so stick around.