“Apple Inc. has stepped up its battle with Australia’s banking industry over the future of mobile payments, accusing an industry consortium of attempting to ‘delay or even block’ the expansion of Apple Pay into the country,” Emily Cadman reports for Bloomberg. “In its latest submission to the Australian Competition & Consumer Commission, published Monday, Apple said it was concerned banks are seeking to ‘delay the expansion of Apple Pay,’ hurting both consumers and smaller card issuers who could use the technology ‘as a means of securing a digital presence in competition with the big banks.'”
“It is the latest salvo from the U.S technology giant in a dispute about whether the country’s leading banks should be permitted to negotiate as a bloc over the introduction of Apple Pay,” Cadman reports. “The banks, which have invested in their own mobile technology in recent years, fear being shut out of the fast-growing market and want to negotiate as a group to boost their bargaining power.”
“The dispute centers around access to the iPhone’s near-field communications antenna, the technology that makes payments on contactless readers possible,” Cadman reports. “Apple wants banks to allow customers to upload their credit cards to its proprietary digital wallet, whereas the banks want their apps to be given direct access to the technology.”
Read more in the full article here.
MacDailyNews Take: Banks should not have direct access to iPhone’s NFC chip. Protecting iOS users’ security is of paramount importance.
ACCC proposes to deny authorisation for banks to collectively bargain with and boycott Apple on Apple Pay – November 29, 2016
Australian banks dismiss Android NFC past in Apple Pay negotiations – November 14, 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
Aussie consumers lose as banks effectively boycott Apple Pay – November 27, 2015
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]