Australian Banks Denied Collective Negotiation For Apple Pay

In the markets that Apple Pay has launched in, for the most part it has been a pretty smooth launch without too many hiccups, save for launch day in Japan where Apple Pay ran into some technical issues. However for the most part, banks and retailers and financial services have been pretty receptive to the platform.

Unfortunately over in Australia, things are a little different. The service has officially launched in the country, but some of the country’s major banks are resisting the service and had previously requested the country’s antitrust regulator to allow them to negotiate with Apple collectively. However it seems that their request has been denied.

According to a preliminary decision made by the antitrust regulators, they have denied the banks’ request to negotiate as a collective. However given that the decision was “finely balanced”, it is possible that the banks could sway them come March when the final decision is expected to be handed down.

So far ANZ is the only major bank out of the four major banks in Australia to have adopted the platform. For those who aren’t ANZ’s customers, it seems that unless Apple and the banks can come to an agreement, you’ll just have to keep waiting a little bit longer.

Tyler Lee
Categories: Apple, Cellphones
Tags: Apple Pay