Mobile payments appear to be the payment technology of the near future in the point-of-sale business. As in most markets when a wave of digitalization sweeps through, incumbents, big tech companies, and newcomers are all struggling to secure the biggest slice of the cake for themselves. In Germany, recent regulatory intervention has the potential to rebalance the relative strengths of the protagonists: the legislature enacted a provision with effect from 1 January 2020 that aims to help payment service providers to access the ‘technical infrastructure’1 that contributes to mobile and internet-based payment services