Australians with an Android phone don’t spend enough money to make it worthwhile to develop NFC solutions for you — at least, ZDNet says that would be one way to sum up the latest joint submission from CBA, NAB, Westpac, and Bendigo Bank to seek approval from the Australian Competition and Consumer Commission (ACCC) to collectively negotiate with Apple to gain access to the NFC element within iPhones.
“Without access to the iPhone’s NFC functionality, there simply will not be the same incentives and ability to innovate for the benefit of Australian customers on either the iPhone platform or other platforms,” the submission from the banks concludes. “Access to the NFC functionality on the Android platform alone cannot generate the same choice, competition, efficiencies, and innovation in integrated mobile wallets in Australia,” they state.
The Australian Banks, including the top lender, National Australia Bank, have lodged a joint application with anti-trust regulators seeking approval to collectively negotiate with Apple to install their own electronic payments applications on iPhones. Apple, which operates its Apple Pay mobile payment service, doesn’t allow third-party electronic payment apps to be installed on the smartphone. The banks are seeking to be able to negotiate jointly for access to Apple’s phones without themselves being accused of violating anti-competition law.