Apple Pay's path to Australia has not been smooth, but Apple has not given up.
Now, things seem to have a turn for the better. According to foreign media reports such as Reuters, Apple has recently won a battle for mobile payments with four Australian banks. The Australian Antitrust and Consumer Commission (ACCC) has made a preliminary ruling that does not allow the four banks to collectively boycott Apple Pay's login.
It is understood that there is no agreement between Apple and the banks in Australia on Apple Pay's handling fee. The bank feels that Apple Pay's handling fee is very expensive and unacceptable. In July this year, Commonwealth Bank of Australia Ltd., Westpac Banking Corp, NaTIonal Australia Bank Ltd. and Bendigo & Adelaide Bank Ltd. requested ACCC approval and Apple conducted collective bargaining, forcing Apple to open Apple Pay's NFC authority, or it would conduct antitrust lawsuits.
In fact, Apple Pay has partnered with more than 3,000 financial institutions around the world, but has not opened up its own hardware rights to any of them. Apple believes that opening third-party electronic payments will damage consumers' privacy and information data security, and the joint efforts of Australia's four major banks constitute a "monopoly", which is not conducive to innovation and healthy competition of other mobile payment services in the market. .
Currently, the ACCC has rejected the requests of the four major banks. The agency said, "If the bank's collective bargaining proposal is approved, it will reduce the possibility of a consensus between each bank and Apple."
The ACCC committee chairman Rod Sims explained: "If the ACCC accepts the bank's allegation, the bank may be able to negotiate a favorable position with Apple, but the results obtained are uncertain and limited."
Rod Sims also pointed out that the existence of Apple Pay can promote market competition, allowing consumers to freely choose the bank card service they want, and to some extent effectively limit the "forced placement" of bank e-wallets.
As for the results of the ACCC's ruling, Lance Blockley, a spokesperson for Australia's four major banking unions, believes that if the decision goes into effect, there will be no rivals in the mobile payment market that will compete with Apple Pay. He said that the bank will continue to appeal to the ACCC
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