Latest in Culture

Image credit:

Australia's biggest banks are tackling Apple Pay

Several financial institutions are challenging Apple Pay as they can't create their own options to compete.
Share
Tweet
Share

Sponsored Links

REUTERS/Mike Blake/File Photo

Some of the largest banks in Australia are banding together to protest Apple and its Apple Pay service. Apple Pay first launched in Australia back in April alongside Samsung Pay and Android Pay. Those two payment solutions aren't attracting the banks' ire, however. Apple's option is the target of the banks because they're unable to provide their own personalized mobile payment options in competition with Apple Pay -- the Cupertino company doesn't allow third-party payment apps with iOS.

So the Commonwealth Bank of Australia and Westpac as well as National Australia Bank, Bendigo and Adelaide Bank have filed an application with the Australian Competition and Consumer Commission to negotiate with Apple and get beyond the rockiness of the situation all without having to worry about anti-competition laws.

There was one bank that did partner with Apple in the end: ANZ (Australia and New Zealand Bank.) It is not currently a part of the complaint filed by the other institutions.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share

Popular on Engadget

Samsung's newest watches can now take ECG readings in the US

Samsung's newest watches can now take ECG readings in the US

View
Seagate's 1TB Game Drive for Xbox Series X, Series S costs $220

Seagate's 1TB Game Drive for Xbox Series X, Series S costs $220

View
'Among Us' developers cancel sequel plans, focus on their new/old smash hit

'Among Us' developers cancel sequel plans, focus on their new/old smash hit

View
Amazon Fire TV Stick Lite leaks ahead of tomorrow's hardware event

Amazon Fire TV Stick Lite leaks ahead of tomorrow's hardware event

View
Elon Musk: Tesla 'will make ventilators if there is a shortage'

Elon Musk: Tesla 'will make ventilators if there is a shortage'

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr