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00:02Britain's competition regulator proposed lowering Apple's contactless payment fees
00:07and removing technical barriers to help rival services compete with Apple Pay, according to Reuters.
00:11The Competition and Markets Authority said high fees and restrictions make it difficult for competitors to innovate.
00:17The proposals would give digital banks and other providers easier access to Apple's contactless technology.
00:22More than 60% of British adults use digital wallets, with Apple Wallet the most popular.
00:27The regulator is accepting feedback until November 17th, before making a final decision.
00:33Apple said it already allows developers to offer contactless payments through its technology.
00:37The company warned that the proposed changes could weaken privacy and security protections.
00:41For all things money, visit Benzinga.com.
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