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Australian Banks Narrow Focus Of Apple Pay Collective Bargaining Request

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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FILE PHOTO : An employee uses an Apple Watch to demonstrate to reporters how to pay using the Apple Pay service at an Apple store in BeijingBy Jamie Freed SYDNEY (Reuters) - Australian banks seeking permission from the country's competition regulator to bargain collectively with Apple Inc over its mobile payment system said on Monday they will focus on gaining access to the U.S. tech company's contactless payment function, removing the fees Apple charges as a bone of contention. Commonwealth Bank of Australia , Westpac Banking Corp , National Australia Bank Ltd and Bendigo & Adelaide Bank Ltd command two-thirds of Australia's credit card market but have yet to allow use of their cards with Apple Pay which was introduced to the country last year.




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