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Australia Denies Banks Interim Approval To Jointly Negotiate With Apple On Payment Apps

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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National Australia Bank logo is pictured on an automated teller machine in central SydneyBy Matt Siegel SYDNEY (Reuters) - Australia's anti-trust regulator on Friday said it would not grant the country's three biggest banks interim approval to collectively negotiate with Apple Inc to install their own electronic payments applications on iPhones. Australia's three biggest banks, including the number one lender National Australia Bank (NAB), last month lodged a joint application seeking permission to negotiate as a bloc from the Australian Competition and Consumer Commission (ACCC). The ACCC said that its decision not to grant the banks the interim ruling was not indicative of whether the full ruling, expected in October, would be successful or not.




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