Australian Regulators Prevent Banks From Collectively Bargaining With Apple Over Apple Pay
The Australian Competition and Consumer Commission (ACCC) today issued a determination that again denies authorization for the major banks in the country to work together to negotiate with Apple to gain access to the NFC chip within iOS devices.
Commonwealth Bank of Australia, Westpac Banking Corporation, National Australia Bank, and Bendigo and Adelaide bank had asked for permission to collectively bargain with Apple and boycott Apple Pay. According to the ACCC, the request was denied because the potential benefits do not outweigh the detriments, and there were concerns that the collective bargaining could reduce or distort competition in a number of markets.
The Australian banks have been aiming to get access to the NFC chip in the iPhone, which would allow their own payments services to work on iOS devices alongside Apple Pay. Apple does not allow third-party access to the NFC chip because of security concerns, leading Apple to urge the ACCC to deny the request.
The banks argued that access to the NFC chip in the iPhone would allow them to offer competing wallets, which would lead to increased competition and consumer choice in digital wallets and increased innovation and investment in digital wallets.
"This is currently a finely balanced decision. The ACCC is not currently satisfied that the likely benefits from the proposed conduct outweigh the likely detriments," ACCC Chairman Rod Sims said.
With the request for collective negotiations shut down, Australian banks that are holding out against Apple Pay will each need to negotiate individually with Apple. Following the ACCC's statement, the banks released a joint statement calling the decision disappointing.
Thus far, the banks involved in the dispute have resisted implementing Apple Pay, and it's not clear if today's decision will result in a meaningful change. While Apple Pay has been available in Australia for quite some time through partnerships with American Express and ANZ, the many Australians who bank with the three major banks involved in the dispute do not have access to Apple Pay.
Popular Stories
Apple is about to release iOS 26.2, the second major point update for iPhones since iOS 26 was rolled out in September, and there are at least 15 notable changes and improvements worth checking out. We've rounded them up below.
Apple is expected to roll out iOS 26.2 to compatible devices sometime between December 8 and December 16. When the update drops, you can check Apple's servers for the ...
Intel is expected to begin supplying some Mac and iPad chips in a few years, and the latest rumor claims the partnership might extend to the iPhone.
In a research note with investment firm GF Securities this week, obtained by MacRumors, analyst Jeff Pu said he and his colleagues "now expect" Intel to reach a supply deal with Apple for at least some non-pro iPhone chips starting in 2028....
Apple is actively testing under-screen Face ID for next year's iPhone 18 Pro models using a special "spliced micro-transparent glass" window built into the display, claims a Chinese leaker.
According to "Smart Pikachu," a Weibo account that has previously shared accurate supply-chain details on Chinese Android hardware, Apple is testing the special glass as a way to let the TrueDepth...
Apple today seeded the second release candidate version of iOS 26.2 to developers and public beta testers, with the software coming one week after Apple seeded the first RC. The release candidate represents the final version iOS 26.2 that will be provided to the public if no further bugs are found.
Registered developers and public beta testers can download the betas from the Settings app on...
Apple's iPhone development roadmap runs several years into the future and the company is continually working with suppliers on several successive iPhone models at the same time, which is why we often get rumored features months ahead of launch. The iPhone 18 series is no different, and we already have a good idea of what to expect for the iPhone 18 Pro and iPhone 18 Pro Max.
One thing worth...
Apple's chipmaking chief Johny Srouji has reportedly indicated that he plans to continue working for the company for the foreseeable future.
"I love my team, and I love my job at Apple, and I don't plan on leaving anytime soon," said Srouji, in a memo obtained by Bloomberg's Mark Gurman.
Here is Srouji's full memo, as shared by Bloomberg:I know you've been reading all kind of rumors and...
Apple's senior vice president of hardware technologies Johny Srouji could be the next leading executive to leave the company amid an alarming exodus of leading employees, Bloomberg's Mark Gurman reports.
Srouji apparently recently told CEO Tim Cook that he is "seriously considering leaving" in the near future. He intends to join another company if he departs. Srouji leads Apple's chip design ...
You'd expect things to be starting to wind down for the holidays by now, but that doesn't seem to be the case yet in the world of Apple news, with Apple just about ready to release iOS 26.2 and other operating system updates to the public.
There was also a flurry of news this week about Apple executive departures, some expected and some not so expected, while we also learned that Apple and...
Apple today announced that Fitness+ is expanding to 28 new markets on December 15 in the service's largest international rollout since launch, accompanied by new language dubbing and a K-Pop music genre.
Apple Fitness+ will become available in Chile, Hong Kong, India, the Netherlands, Singapore, Taiwan, and additional regions on December 15, with Japan scheduled to follow early next year....
Apple and Google are teaming up to make it easier for users to switch between iPhone and Android smartphones, according to 9to5Google. There is a new Android Canary build available today that simplifies data transfer between two smartphones, and Apple is going to implement the functionality in an upcoming iOS 26 beta.
Apple already has a Move to iOS app for transferring data from an Android...
