Banks set to lose their last stand against Apple Pay


It looks like Apple will win this fight between Goliaths

In a case of financial giants versus technology giant, Australia’s consumer watchdog released a draft decision Tuesday indicating it would deny a request from some of Australia’s top banks to negotiate collectively with Apple over mobile payments.

“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 are currently uncertain and may be limited,” ACCC Chairman Rod Sims said in a statement. Read more…

More about Apple Pay, Westpac, National Australia Bank, Commonwealth Bank, and Apple
Source: Mashable

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