Banks lose to Apple Pay in competition stoush
Well it’s official. The Australian Competition and Consumer Commission (ACCC) has finally determined that the “banks” (CBA, Westpac, National and Bendigo & Adelaide Bank) are not allowed to collectively negotiate with Apple for access to the NFC chip on iPhones and corresponding access to the App Store. Although the ACCC agreed that access would in some…Read More
Will Apple Pay win its fight against Aussie banks and retailers?
Apple is currently in a major scrap with Australian banks and retailers over its control of the NFC chip on eligible iPhones. A consortium of banks and retailers have asked the Australian Competition and Consumer Commission (ACCC) to rule that they can collectively negotiate with Apple rather than having to negotiate individually. Apple is fighting…Read More
Should Visa and MasterCard be scared of Apple and Google?
If Visa and MasterCard are the toll roads for payments between consumers and merchants, then Apple Pay and Android (Google) Pay are the new class of on-ramps. The risk for Visa and MasterCard is that Apple and Google eventually activate the corresponding exits that deliver payments from the payers (consumers) to the payees (merchants) and…Read More