It looks like Apple will win this fight between Goliaths.
In a case of financial giants versus technology giant,her eroticism 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.
SEE ALSO: Apple's 'spaceship' campus looks like a futuristic, solar-powered fortress in new drone video"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.
The saga started in July, when Commonwealth Bank, National Australia Bank and Westpac, along with Bendigo and Adelaide Bank, applied to the Australian Competition and Consumer Commission (ACCC) arguing that Apple's strict control of its hardware undermined innovation and competition in the fintech space.
Currently, ANZ is the only bank out of Australia's "big four" to offer Apple Pay.
The fight centred on the iPhone's near-field communication (NFC) technology, which Apple generally prohibits access to for third-party apps. The hardware enables secure tap-and-go mobile payments.
The banks wanted to force Apple to open up NFC to their own banking apps, a proposal the technology giant protested vigorously.
Calling the banks a "cartel," Apple said in its own August submission to the ACCC that to do so would undermine security. "Our hardware, software and services are built in a deeply integrated manner so we can provide the highest possible security," it wrote.
The ACCC did not fully accept Apple's security argument Tuesday, but noted the banks' ability to offer their own competing mobile payment apps with or without NFC access, and on the competing Android platform.
"There will be no competition against Apple for mobile payments on the iPhone."
The banks were also unhappy with the fees charged by Apple for use of its digital wallet. They wanted to negotiate the ability to pass that cost on to consumers.
"On balance," the ACCC found consumer interest would not be served by granting the banks' application, particularly given it could distort competition between the banks in supplying mobile wallets for iPhone.
Also noting that giving the banks the go-ahead would allow them not to sign up to Apple Pay for three years, "the ACCC is not currently satisfied that the likely benefits from the proposed conduct outweigh the likely detriments," Sims said.
A spokesperson for the banks said they were disappointed with the draft result.
"Our application is not just relevant to Australia -- the same issues around consumer choice and the freedom to offer genuine competition against Apple Pay arise globally," he said in an emailed statement.
"We believe today's draft decision is great for Australians and we look forward to continuing to work with individual banks in Australia and around the world to bring Apple Pay to their customers," an Apple spokesperson told Mashable.
The ACCC will now receive further submissions on the issue before its final ruling.
UPDATE: Nov. 29, 2016, 4:07 p.m. AEDT Apple statement added.
Topics Apple
Will Oracle take over TikTok? Trump says he'll make a decision in 30 days
14 tweets that got me through the week
Twitter's 'Official' checkmark rollout was a mess. Elon Musk already killed it.
25 tweets about glasses to read while your glasses slide down your nose
NYT Connections Sports Edition hints and answers for February 11: Tips to solve Connections #141
Arnold Schwarzenegger brushed off a dropkick like it was nothing
Cool guy Mayor Bill de Blasio confesses his love for ska
'Quordle' today: See each 'Quordle' answer and hints for November 15
Best Presidents' Day deal: Save $44 on Fitbit Charge 6
Elon Musk shares date for Twitter Blue relaunch
Brest vs. PSG 2025 livestream: Watch Champions League for free
Twitter employees who replied to one of Elon Musk's tweets were fired
The best and worst merch from the 2020 presidential candidates
'And I oop' is having another moment and the memes are too good for this world
Australian Open 2025 livestream: Watch live tennis for free
Dating app game 'MonsterMatch' uses monsters to show algorithmic bias
Elon Musk's $8 Twitter Blue subscription goes live, will tell you who paid for verification
Jake Paul's attempt at calling out 'cyberbully' Cody Ko backfired beautifully
Trump says he represents Pittsburgh, not Paris, but, um, well...
Gillette's new ad of a trans man's first shave is honestly pretty good
Phoenix Suns vs. Golden State Warriors 2025 livestream: Watch NBA onlineBest headphones deal: Get Beats Studio Pro x Kim Kardashian headphones for $180Best GPU deal: GIGABYTE NVIDIA GeForce RTX 5080 is $1,349.99 at Best BuyThe 'Office' quote that defined Kevin Malone, according to the actor himselfWill Microsoft buy TikTok? Trump says talks are happening.Sri Lanka vs. Australia 2025 livestream: Watch 1st Test for freeSri Lanka vs. Australia 2025 livestream: Watch 1st Test for freeiOS 18.3 is here. 3 major changes to knowJimmy WB73 mattress vacuum deal: $100 offLevoit cordless vacuum deal: $149.99 at AmazonWill Microsoft buy TikTok? Trump says talks are happening.NYT Connections hints and answers for January 30: Tips to solve 'Connections' #599.Stephen King's 'The Monkey' review on Threads is pretty unambiguousBest smartwatch deal: Get a refurbished Apple Watch Ultra for $399.99 at WootMinnesota Timberwolves vs. Phoenix Suns 2025 livestream: Watch NBA onlineBest smart tracker deal: Get 40% off a Tile Mate tracker at AmazonRyan Coogler's 'Sinners': 6 things we learned about the horror filmWhatsApp bug let users access 'View Once' photos multiple timesBest RTX 5080 gaming PC deal: CyberPowerPC Gamer Supreme for $2,699.99DeepSeek AI gets hit with data privacy red flag by Italy and Ireland Best iPad deals: Save up to $120 on October Prime Day How to unblock Discord for free Internet Archive data breach: Hacker claims to ‘See 31 million of you' on Have I Been Pwned Elon Musk's X will no longer pay creators based on ads but on engagement Arkadium mini crossword answers for October 10 Best October Prime Day Fitbit deals [2024] Prime Day hard drive deals: Get SSDs from SanDisk, Samsung Best October Prime Day tablet deals: Amazon Fire tablets and iPads are still on sale Best October Prime Day fitness tracker deals: Samsung, Garmin, Apple, and more Arkadium mini crossword answers for October 9 Best October Prime Day home security camera deals: SimpliSafe, TP October Prime Day: Save $200 on Breville Barista Express Prime Day kitchen deals worth buying, from a home baker Hurricane Milton: T October Prime Day: Save $170 on iRobot Roomba i3+ EVO England vs. Greece 2024 livestream: Watch UEFA Nations League for free Best Samsung Galaxy S24 Ultra Deal: Save $370 on October Prime Day Best Amazon Prime Day gaming laptop deals still live: Alienware, Acer, and more 49ers vs. Seahawks 2024 livestream: How to watch NFL for free Apple Vision Pro: You may never meet The Weeknd, but this new experience brings you close
2.9734s , 8287.890625 kb
Copyright © 2025 Powered by 【her eroticism】,Unobstructed Information Network