The ACCC has blocked the big four banks from bargaining with Apple for more control over Apple Pay.
The banks could have used their collective bargaining power not only against Apple for Apple Pay but also stall the adoption of mobile payments in Australia.
ANZ has already struck a deal with Apple for its contactless payment system but now four other banks are arguing the company is making competition difficult.
The competition in Australia's contactless payment industry is heating up as Apple Pay sets up in Australia. However some banks claim the company is making the system less competitive.
It’s been more than 18 months since Apple launched Apple Pay in the US.
Apple faces numerous challenges in its bid to get more people using their iPhones to pay for things.
Apple Pay launched in the US in 2014, but has yet to gain traction in Australia.
Australians love to 'tap and go' for payments, but doing it with a mobile phone is being complicated by our card fee system.
Apple Pay could help make contactless payments mainstream.
Today’s launch of the Apple Pay mobile payments service has the potential to eliminate the need for us to carry payment cards in our purses or wallets - but as always converting potential to reality is…