Australian banks accused boycotting Apple Pay
Australian banks have been accused of ‘boycotting’ Apple Pay after no financial institution, besides American Express, has signed up with the mobile payment platform since its introduction two weeks ago. Ed Husic, Labour’s spokesman on digital innovation said this was, in effect, anti-competitive, as it denied consumers a choice of secure mobile payments. He has written a complaint to the RBA and the Australian Bankers’ Association. The banks walked away from talks with Apple, rejecting the tech giant’s interchange fee, which were believed to be excessive.

The Reserve Bank has been urged to examine potential anti-competitive behaviour in the emerging card-free payments market amid claims the banks have frozen out newcomer Apple Pay.

Labor's spokesman on digital innovation, Ed Husic, has written to the RBA and the Australian Bankers' Association, raising his concern that Australians are being "denied choices" in digital payments.

Apple Pay, which allows consumers to leave credit and bank cards at home by making purchases with an iPhone or Apple watch, launched in Australia less than a fortnight ago but all the banks have so far refused to support the new app by allowing customers to link their bank account to their phone.