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Apple Battles Apple Pay Banks In Australia

Apple Pay Banks

Apple Pay Banks In Australia

The Cupertino-giant has hit a dead-end in their attempts of bringing Apple Pay into Australia. Apple Pay banks in Australia are arguing that Apple’s business strategy is exploitative. Their demand regarding access to the iPhone’s NFC hardware was rejected by the tech-giant. The banks went to court over the matter. The court will formally announce its decision in March, but it is expected to be in Apple’s favor. Apple is criticizing Australian banks for trying to slow down or even stop them from launching Apple Pay in Australia.

Apple argues that the potential delay is causing harm to the traders and consumers who want to get on board with the technology. The root cause of the issue is that the Apple Pay banks in Austrailia call for access to the NFC technology to offer alternative mobile payments. Apple debates that this access would greatly damage the minimalism and security of the iPhone.

Apple VS The Banks

It is clear that that the banks are reluctant to give up so much power to one company.  Apple says that these arguments are an attempt to stop Apple Pay from coming into the country.The banks, however, have completely rejected Apple’s claims on the matter. They instead argue that

“It has always been about providing real choice and real competition for consumers and facilitating innovation and investment in the digital wallet functionality available to Australians.”

Apple Pay worldwide

Even though Apple has faced a major setback in Australia, support for Apple pay continues to grow worldwide. American Express and several of Australia’s credit unions support Apple Pay. Apple announced on its earnings call that the transactions have increased by over 500% year over year. The users of the service also have tripled.

All the iPhones currently on sale have Apple Pay built-in. In Japan, the company even introduced a different version of the hardware to support the FeliCa standard. The service also made its way to Mac in 2016 with the integrated Touch ID sensor in the new MacBook.

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