Australian Banks Indirectly Help Bitcoin By Boycotting Apple Pay
The mobile payment sector is heating up, as every company and financial institution are scrambling to launch their platform in the near future. Over in Australia, it will not be smooth sailing for Apple Pay by any means, as the country’s major banks continue to boycott the popular mobile payment solution. NAB was among the first to launch their own mobile app, and now ANZ Mobile Pay is here as well. Bitcoin, on the other hand, is creating a far less fractured payment ecosystem around the world. Apple Pay Battle in Australia Becomes A Lot Harder. Even when consumers might be preferring to....
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Competition in the mobile payments industry is heating up all over the world, but things are getting particularly interesting in Australia. The National Australia Bank has launched a new mobile payment solution for Android users, which will be in direct competition with Apple’s concept. Furthermore, the country’s largest banks are planning to keep boycotting Apple Pay for the foreseeable future. Bitcoin is still the only global mobile payment solution. Australian Banks Do Not Like Apple Pay. Even though any form of mobile payment solution should be designed to benefit the consumer, several....
Moreover, it is evident these Australian banks have no intention of supporting Apple Pay whatsoever, and collaborating in this regard seems the best possible outcome for all parties involved. Many people think the bigger banks are only opposing Bitcoin and cryptocurrency, but that is not entirely correct. Over in Australia, the banks are opposing Apple Pay as well. A new collaboration between the country’s three biggest banks will shake up things by quite a margin. If their approval is granted, the institutions will negotiate with Apple to install their own mobile payment solutions on....
Apple Inc. is battling with five of Australia’s banks that are seeking to negotiate collectively with Apple for access to its mobile payment technology. Over the last several months, the banks have complained Apple is not permitting access to mobile payment technology. Commonwealth Bank of Austrailia, National Australia Bank, Westpac Banking Corporation, Adelaide Bank and Bendigo have applied to the Australian Competition and Consumer Commission (ACCC) seeking approval for collective bargaining in negotiating with Apple. Apple Responds To Banks. In a submission to the ACCC, Apple gave....
A petition to collectively bargain and boycott Apple on Apple Pay by three of Australia’s “big four” banks is set to be dismissed by the Australian Competition and Consumer Commission (ACCC), the country’s antitrust regulator. Fintech is all the rage and Australia’s big banks want in, by demanding access to Apple’s in-house Apple Pay platform with their own terms. The Commonwealth Bank, the National Australia Bank and Westpac are three of Australia’s ‘big four’ banks complaining that Apple is barring them from gaining access to its Apple Pay platform, after negotiations between the banks....
Australian banks have advised Australian bitcoin companies they are closing their accounts, according to The Australian Financial Review. The publication has seen the letters from Westpac Banking Corporation and Commonwealth Bank of Australia. Ron Tucker, chairman of The Australian Digital Currency Commerce Association, said all large Australian banks were shutting the door on bitcoin companies. The banks sent letters to Australian bitcoin exchanges, including Bit Trade and Buyabitcoin. The letters said the banks will close the exchanges' accounts and did not give any explanation. At least....