A few days ago the news broke about a British study in which the interest of the country's banks in investing in new technology to stand up to Apple Pay was shown and other electronic payment services that have reached the market in recent months. Apple Pay is a new competitor with which they have to share the commissions they charge for using the service to merchants and most banks are not willing. And as proof of this, we also have the case of Australia, where banks are blocking the use of Apple Pay on most cards and users.
Moment Apple Pay is only available in Australia on Amex cards but not because of AppleBut for the banks that are blocking the use of this technology because according to them, Apple wants to charge too much for doing practically nothing. The slam of the Australian Labor Party, affirms to the Sydney Morning Herald newspaper that it is going to take this case to the competition court to examine whether it is harming, not only Apple, but also users who cannot use the system payment method that best suits your needs.
Australian consumers cannot be denied the ability to use payment methods that are openly available to consumers around the world, ”wrote Ed Husic. “No doubt some will argue that this move by banks is anti-competitive - I am certainly concerned that the consumer is being denied access to a secure and efficient payment platform.
Today American banks keep 1% of transactionsFor every $ 100 purchase, they get one. Of that pain, Apple keeps 15 cents. By cons, Australian banks get 0,5% of each transaction, an expense of $ 100 offers 50 cents to the banks. Apple still wants to charge 15 cents for each one, which greatly reduces the banks' commission.