Google and PayPal have reportedly expressed concerns to European antitrust regulators, saying they fear that if major UK mobile operators are allowed to form their proposed NFC mobile-commerce joint venture, they would have too much power to control secure elements in NFC phones, the Financial Times reported Sunday.
The publication said that Google and PayPal, as well as IBM are “concerned about the market power that could potentially be gained by rivals controlling the use of a key microchip.”
They expressed the fears “in confidence” to members of the team in the European Commission's competition agency that is weighing the antitrust implications of the planned joint venture, dubbed Project Oscar, according to the article.