The technology of Apple prevents other applications, outside of one’s own, to use the functionality of the antenna of near field communications in the iPhone, the technology that makes it possible for payments with contactless readers.
(Bloomberg) Apple has scored a victory in the global battle to control the future of the technology of mobile payments thanks to the regulator of the australian competition refused to grant a group of local banks authorisation to collectively negotiate the introduction of Apple Pay.
The Commission Australian for the Consumer and the Competition (ACCC is its acronym in English) said Tuesday in its preliminary findings that "there was no proven" that the potential benefits of allowing banks to negotiate with Apple as a single block exceed the negative aspects. Allow collective negotiations "could reduce competition among banks in the provision of mobile payment services for iPhones," said the regulator. Australian banks wanted to strengthen their negotiating position in the talks with Apple due to fears that the widespread use of contactless payment cards in Australia allow the u.s. company to amass rapidly a large share of the market of mobile payments.
The technology of Apple prevents other applications, outside of one’s own, to use the functionality of the antenna of near field communications in the iPhone, the technology that makes it possible for payments with contactless readers. The company wants the banks to allow customers to load their credit cards into their digital wallet patented.
Commonwealth Bank of Australia, National Bank of Australia Ltd., Westpac Banking Corp. and Bendigo & Adelaide Bank Ltd. had applied to the ACCC the right to negotiate as a block with the manufacturer of the iPhone, citing a "significant disparity of bargaining power".
mobile Wallets Given that the transport network largest in the country and is preparing to begin trials of a system in which passengers can pay with their mobile wallets and the public agencies begin to introduce digital versions of concession card, the banks expect an increase in the adoption of the mobile wallet.
After you have invested considerably in recent years in their own mobile applications and technology point-of-sale, they are concerned about the prospect of proposals for third parties to leave the margin of a growing market.
A spokesperson for Apple welcomed the decision of the ACCC. "We believe that the preliminary decision today is good for australians and we look forward to continuing to work with individual banks in Australia and around the world to bring Apple Pay to their customers," he said.
In their presentations to the regulator, the consortium warned that the fast adoption of mobile wallets in Australia involved "a increasing probability" that, without authorization to bargain collectively, individual issuers "are forced to accept terms and conditions that will limit competition, innovation and investment, the efficiency and the transparency of mobile wallets and mobile payments". Australia and New Zealand Banking Corp. (ANZ for its acronym in English) does not integrate the action of the ACCC in both decided to accept Apple Pay in April.
The decision contributed to that ANZ increase the number of new customers up to a historical maximum in the quarter which closed on 30 September, said the head, Shayne Elliott, in a report to analysts earlier this month.
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