Friday, February 10, 2017

Australia is the country that uses Apple Pay in spite of conflicts with banks


Jennifer Bailey, vice president of Apple Pay, has granted an interview to AFR.com . In the same has indicated that the Australians are those who use the mobile payment platform of the company , despite legal disputes in which Apple is immersed with the banks of the continent .

The use of Apple Pay remains very low

Although a widely accepted service by customers, the overall use of the platform remains low in Australia. According to Bailey, there are users willing even to switch banks to access Apple Pay , but banks still do not understand the benefits of having the platform . The main problem is that major Australian banks are in a legal dispute against Apple . They have informed the Australian Commission on Competition and Consumers as they consider that Apple is behaving unfairly, thanks to the bargaining power with which it has .

Australian banks want to use their own payment services

They consider that Apple is monopolizing payment services on the iPhone and claim access to the NFC chip of iOS devices so they can use their own services . Obviously Apple has refused. According to Bailey in the interview, all banks in the world agree to use Apple Pay under the same terms, so it would be unfair to give privileges to some. In addition, he argues that making the NFC chip accessible to third parties, would reduce the security of the same, indispensable requirement in a platform of this style .
The only major financial institution affiliated with Apple Pay in Australia is ANZ Banking Group, along with many small banks that continuously increase. The conclusive ruling of the case is expected for March this year .
And you, what do you think of the request of the Australian banks? , Do you think Apple Pay security would be compromised if the NFC chip becomes accessible to third parties ?, or instead, do you think that would be a good decision for the platform to reach more users?
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