“Australia’s anti-trust regulator on Friday said it would not grant the country’s three biggest banks interim approval to collectively negotiate with Apple Inc to install their own electronic payments applications on iPhones,” Matt Siegel reports for Reuters. “Australia’s three biggest banks, including the number one lender National Australia Bank (NAB), last month lodged a joint application seeking permission to negotiate as a bloc from the Australian Competition and Consumer Commission (ACCC).”

“The ACCC said that its decision not to grant the banks the interim ruling was not indicative of whether the full ruling, expected in October, would be successful or not,” Siegel reports.

“Apple, which operates its own Apple Pay mobile wallet, does not allow third-party electronic payment apps to be loaded onto to the hugely popular smartphones. The banks are seeking to be able to negotiate jointly for access to Apple’s phones without themselves being accused of violating anti-competition law,” Siegel reports. “The three Australian banks contend that while Apple allows apps on iPhones using other commonplace technology, such as Wi-Fi and Bluetooth, restricting the technology through which mobile wallets function – known as Near Field Technology [Near Field Communications] – constitutes anti-competitive behavior.”

Read more in the full article here.

MacDailyNews Take: Barring access to iPhone’s NFC is not “anti-competitive behavior,” it’s protecting security. These banks are simply delusional and should be told to go pound sand.

Oh, BTW: Android malware hits Aussie bank customers, iOS users unaffected – March 10, 2016

SEE ALSO:
Apple launches blistering attack on Aussie banks; says demand for NFC access would threaten iPhone security – August 10, 2016
Australian banks accuse Apple of anti-competitive behavior, want access to iPhone’s NFC chip to take on Apple Pay – July 28, 2016
ANZ welcomes Apple Pay in Australia with a funny new TV ad – May 5, 2016
Apple expands Apple Pay in Australia with ANZ bank deal – April 28, 2016