United Kingdom, Oct. 21 -- The UK competition watchdog is asking Apple to widen access to its contactless payment technology, arguing that the iPhone maker's current restrictions and fees are preventing rivals from developing new financial and travel services.

The Competition and Markets Authority (CMA) said it wants Apple to allow apps to use its contactless technology through Host Card Emulation (HCE), a widely used alternative standard that is currently not permitted on iPhones in the UK.

It also wants the fees Apple charges companies to use its technology to be "substantially lower".

The CMA said the changes could encourage new products including account-to-account payments, digital IDs, travel passes and digital keys.

It said alm...