27 Jul 2016
In a rather extraordinary move, four of Australia’s largest banks have written to Australia’s competition regulator requesting permission to join together in a collective boycott whilst they negotiate with third-party mobile wallet services including Apple Pay, Android Pay and Samsung Pay. The banks seeking permission include 3 of the ‘Big 4’ banks in Australia, being the Commonwealth Bank of Australia, National Australia Bank, and Westpac Banking Corporation, but it also includes Bendigo and Adelaide Bank. Notably, the fourth bank in the ‘Big 4’ absent from this request is ANZ which reached an agreement with Apple earlier this year to launch Apple Pay for its customers.
You can claim CPD minutes for this content, by signing up to our CPD WalletFREE CPD Wallet