The Australian Competition and Consumer Commission (ACCC) today rejected an application from several Australian banks that sought to collectively negotiate with Apple over Apple Pay, reports Reuters.

Commonwealth Bank, Westpac, National Australia Bank (NAB), and Bendigo and Adelaide Bank sought to enter into group talks with Apple in an attempt to establish a deal that would give them access to the NFC hardware in the iPhone, allowing them to offer their already-established bank-run mobile payments services using the iPhone's NFC chip.

applepayanz
The four banks needed the permission of the ACCC to avoid violating anti-cartel laws, but their request has been officially denied. In a statement, ACCC chairman Rod Sims said the benefits are "uncertain" and "may be limited."

"While the ACCC accepts that the opportunity for the banks to collectively negotiate and boycott would place them in a better bargaining position with Apple, the benefits are currently uncertain and may be limited."

Today's denial follows an initial denial in August, where the ACCC opted to take more time to consider the issue before granting a request that would have allowed the banks to boycott Apple Pay while negotiations took place. The ACCC has now denied the banks both interim and draft authorization, but a final ruling on the request will not come until March of 2017.

Apple vigorously opposed the initial request, stating that allowing banks to access hardware within the iPhone would compromise security, undermine customers' privacy, and harm innovation. The banks, meanwhile, claim access to NFC would give customers more choice and would have "tremendous benefits for the entire Australian mobile payments landscape."

While Apple Pay has been available in Australia since November of 2015 through partnerships with ANZ and American Express, Australia's three major banks -- Commonwealth Bank, Westpac, and National Australia Bank -- have thus far resisted signing deals with Apple to accept Apple Pay.

Recently, Apple inked a deal with Cuscal Payments Group, expanding Apple Pay to more than 30 small banks and credit unions across Australia. The agreement saw Apple Pay becoming available to four million additional Australians.

Related Roundup: Apple Pay
Tag: Australia

Top Rated Comments

Mr PB Avatar
96 months ago
I don't know how these banks are seeing how their continued aggression in trying to barter would be perceived as anything other than greedy and consumer-unfriendly. Switched from CBA to ANZ & AMEX as I could read the writing on the wall in this - even removing Apple Pay from the equation, it's been a much better experience.
Score: 8 Votes (Like | Disagree)
the8thark Avatar
96 months ago
G'day mate! 'Nother shrimp on the barbie?
Do you realise that Aussies don't call them shrimp?
Score: 5 Votes (Like | Disagree)
jclo Avatar
96 months ago
That's a confusing, though grammatically correct, sentence. It seems like ANZ and AmEx have Apple Pay in Australia, but not Commonwealth, Westpac, or NAB, correct?
Yes, that is correct. I rewrote that sentence so it's clearer. I'm sorry for the confusion.
Score: 4 Votes (Like | Disagree)
dehydratedH2O Avatar
96 months ago
While Apple Pay has been available in Australia ('https://www.macrumors.com/2016/04/27/apple-pay-australia-anz/') since November of 2015 through partnerships with ANZ and American Express, Commonwealth Bank, Westpac, and National Australia Bank have thus far resisted signing deals with Apple to accept Apple Pay.
That's a confusing, though grammatically correct, sentence. It seems like ANZ and AmEx have Apple Pay in Australia, but not Commonwealth, Westpac, or NAB, correct?
Score: 3 Votes (Like | Disagree)
samh004 Avatar
96 months ago
I understand the angle the banks are coming from. However, I would imagine that even if Apple did open up their NFC hardware, these other banks would still not use Apple Pay, and instead just use their own systems. While that may work out well for them, I don't see them accepting Apple Pay after they have done that.

Therefore, it's right for Apple to hold their ground on this. The banks will have to come around eventually... probably some time between March and November (2 years after ANZ) next year :p

As for shrimps...

Score: 3 Votes (Like | Disagree)
Aussi3 Avatar
96 months ago
This is so stupid I'm thinking of switching because of how stubborn the banks are being
Score: 3 Votes (Like | Disagree)

Popular Stories

reset password request iphone

Warning: Apple Users Targeted in Phishing Attack Involving Rapid Password Reset Requests

Tuesday March 26, 2024 4:34 pm PDT by
Phishing attacks taking advantage of Apple's password reset feature have become increasingly common, according to a report from KrebsOnSecurity. Multiple Apple users have been targeted in an attack that bombards them with an endless stream of notifications or multi-factor authentication (MFA) messages in an attempt to cause panic so they'll respond favorably to social engineering. An...
iPhone Home Screen Gradient Blank Spaces 1

Sources: iOS 18 Lets Apps Be Placed Anywhere on Home Screen Grid

Sunday March 24, 2024 1:33 pm PDT by
iOS 18 will give iPhone users greater control over Home Screen app icon arrangement, according to sources familiar with the matter. While app icons will likely remain locked to an invisible grid system on the Home Screen, to ensure there is some uniformity, our sources say that users will be able to arrange icons more freely on iOS 18. For example, we expect that the update will introduce...
iPad Pro 2024 Landscape Camera Feature

New iPad Pro Again Rumored to Feature Landscape Front-Facing Camera

Monday March 25, 2024 5:43 am PDT by
The next-generation iPad Pro will feature a landscape-oriented front-facing camera for the first time, according to the Apple leaker known as "Instant Digital." Instant Digital reiterated the design change earlier today on Weibo with a simple accompanying 2D image. The post reveals that the entire TrueDepth camera array will move to the right side of the device, while the microphone will...
sonoma desktop wwdc

Apple Releases macOS Sonoma 14.4.1 With Fix for USB Hub Bug

Monday March 25, 2024 10:10 am PDT by
Apple today released macOS Sonoma 14.4.1, a minor update for the macOS Sonoma operating system that launched last September. macOS Sonoma 14.4.1 comes three weeks after macOS Sonoma 14.4. The ‌‌‌‌macOS Sonoma‌‌ 14.4‌.1 update can be downloaded for free on all eligible Macs using the Software Update section of System Settings. There's also a macOS 13.6.6 release for those who...
maxresdefault

Apple Announces WWDC 2024 Event for June 10 to 14

Tuesday March 26, 2024 10:02 am PDT by
Apple today announced that its 35th annual Worldwide Developers Conference is set to take place from Monday, June 10 to Friday, June 14. As with WWDC events since 2020, WWDC 2024 will be an online event that is open to all developers at no cost. Subscribe to the MacRumors YouTube channel for more videos. WWDC 2024 will include online sessions and labs so that developers can learn about new...
Generic iOS 18 Feature Purple

iOS 18 Will Finally Bring This Android Feature to iPhone

Monday March 25, 2024 6:42 am PDT by
iOS 18 will allow iPhone users to place app icons anywhere on the Home Screen grid, according to sources familiar with development of the software update. This basic feature has long been available on Android smartphones. While app icons will likely remain locked to an invisible grid system on the Home Screen, our sources said that users will be able to arrange icons more freely on iOS 18....
apple maps 3d feature

Apple Maps May Gain Custom Routes With iOS 18

Tuesday March 26, 2024 3:10 pm PDT by
Apple may be planning to add support for "custom routes" in Apple Maps in iOS 18, according to code reviewed by MacRumors. Apple Maps does not currently offer a way to input self-selected routes, with Maps users limited to Apple's pre-selected options, but that may change in iOS 18. Apple has pushed an iOS 18 file to its maps backend labeled "CustomRouteCreation." While not much is revealed...
iphone reasons to upgrade

Apple Outlines 'Reasons to Upgrade' Your iPhone on New Website

Monday March 25, 2024 12:53 pm PDT by
Apple today added a "Why Upgrade" section to its website, which is aimed at encouraging customers with older iPhones to upgrade to a newer model. The website allows customers to compare the iPhone 11, 11 Pro, 11 Pro Max, 12, 12 mini, 12 Pro, and 12 Pro Max to the iPhone 15, iPhone 15 Plus, iPhone 15 Pro, or iPhone 15 Pro Max. Each comparison shows what new features someone with an older...