Apple has won the battle to control the future of mobile payments technology after regulators denied Australian banks the right to collectively bargain and boycott its Apple Pay ContactLess payment system. An Australian consumer watchdog has bolted four Banks from together bargaining with Apple for gaining access to the ContactLess Money Transfer payment technology used in iPhones.

Banks Doesn’t want to let their card to be used with “Apple Pay ContactLess payment”

Four banks Commonwealth Bank, Westpac, National Australia Bank and Bendigo and Adelaide Bank wanted to negotiate with Apple to authorize access to its payments technology used in “Apple Pay ContactLess payment” for their own apps, avoiding having to pay fees to Apple.

Commission gives the Judgement in Favor of Apple.


On the final Ruling, the Australian Competition and Consumer Commission ACCC said that the collective threat to boycott Apple was “likely to reduce or distort competition“. the proposed conduct by a consortium of major banks could reduce or distort competition in a number of markets, including the provision of “digital wallets”.  A “digital wallet” is an application on a mobile device that enables payments in shops and can store other information, including loyalty and membership cards.

“While the ACCC accepts that the opportunity for the banks to collectively negotiate and boycott would place them in a better bargaining position with Apple, the benefits would be outweighed by detriments,” said Rod Simms, ACCC chairman.

What actually the Case Is ?

For those who doesn’t have any idea what is going on take a deep breath as we are going to explain what actually the case is.


Four major Banks of Australia Commonwealth Bank, Westpac, National Australia Bank and Bendigo and Adelaide Bank they have their own wallet apps by which they make money when a consumer transfer the money through their wallet as Being the major player in Australian market they have the bulk of the consumer using their services.

But Here the Problem start when Apple start to play it’s role in the futuristic technology by having the plan of  Apple pay ContactLess Money transfer by using their current services of “Apple Pay”. Banks decide to take on apple by indulging the Apple into negotiation table for using their card by charging some money when a consumer uses the Apple pay service and Apple Doesn’t want to do that as Apple will definitely loose majority of apple pay user when they would extra charge when they use Apple Pay Service They Denied Apple from using their Cards on Apple pay ContactLess Payment transfer Technology.
However, the banks have said that they were “disappointed” by the decision and would take a look at their upcoming strategies.

The near field communication (NFC) system used in “Apple Pay” allows users to transact by just holding their phone to a small terminal, with the money deducted from a bank card registered with Apple Pay.