It looks like Apple will win this fight between Goliaths.
In a case of financial giants versus technology giant,define eroticization 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.
The cicadas aren't invading the U.S.
Cheaper Google Pixel phones might be on their way
'The Simpsons' and Deadpool celebrate the completion of the Disney
Apple updates 21.5 and 27
Best soundbar deal: Get $50 off the Amazon Fire TV Soundbar Plus
Internet providers block sites that host Christchurch terror attack video
Google's Stadia turns Chrome into your video game console
People are relating hard to a new 'Toy Story' character's lust for the void
CPU Price Watch: 9900K Incoming, Ryzen Cuts
Eerily predictive review spreads online after Dreamworld accident
Get a Smart AcousticPlus acoustic electric guitar for $199.99
Facebook reveals more details about how Christchurch terror attack video spread
J.K. Rowling's latest take on Dumbledore's love life has sparked some very sexual memes
Kim Kardashian sat in the audience at Kanye West's show and I'm crying
Apple is reportedly still working on smart glasses of some kind
Apple's Jonathan Ive is designing a Christmas tree this year
Website secretly livestreamed 1,600 unwitting hotel guests for paying members
SEC says Elon Musk failing to get his Tesla tweets pre
I'm a college professor. My advice to young people who feel hooked on tech
New York City will have a self
Instagram just added nested comment threads to postsThis wildly expensive gin comes with an old motorcycle part lodged in the bottleThe internet gives film titles totally British makeovers and it's absolutely brilliantRon Howard's Han Solo movie might feature the Death StarAnderson Cooper breaks down exactly why Trump's press conference should bother youYouTube has a surprising number of illegally streamed TV showsBonnie Tyler will perform flawless song 'Total Eclipse of the Heart' during the eclipseWhy Amazon's Kindle is the perfect device for meDon't even think about using these emoji in these countriesFacebook's mobile redesign makes reading easier but it's kind of just really grayHackers just broke into HBO's Twitter accounts amidst weeks of security breachesThe only 'Game of Thrones' recap we need is one made with corgisIntel's selfHackers just broke into HBO's Twitter accounts amidst weeks of security breachesWhat's behind the recent uptick in robocalls?These women engineers had the most productive debate of the Google memo so farAndroid phones could copy the iPhone 8's biggest expected featureLeaked images might show the iPhone 8's wireless charging padsParalympian plans to cross 40 miles of the Australian outback in just his wheelchairDo you watch movies? MoviePass's new deal is unreal and you should sign up today Bernie Sanders demands Trump kick 'racist' Bannon to the curb Tesla Model S and Model X ranges get big upgrades Melania Trump's racy photos land Indian minister in soup New Yorkers rejoice no longer living in building with Trump's name on it Thank you, C Why Captain America is (probably) a virgin The first reactions to 'Avengers: Endgame' are in, and it's one heck of a finale What's coming to Netflix in May 2019 A herd of deer cause havoc during cross country race. Twitter responds to a dad's desperate plea to help his autistic son People can't stop lining up their faces with money and it's kind of great 'Avengers: Endgame': Where is every character after 'Infinity War'? Facebook may soften political ad rules for EU election Facebook, YouTube answer to UK lawmakers for Christchurch video BET salutes President Obama with beautiful 'Love and Happiness' concert 'Jeopardy!' champion surpasses $1 million in winnings in just 14 games Trump gets ghosted by New Zealand PM because earthquakes will do that NYC taxi driver pin OnePlus 7 Pro is coming on May 14 Cane toad sausages are a thing that exists because Australia
2.7556s , 8286.0859375 kb
Copyright © 2025 Powered by 【define eroticization】,Exquisite Information Network