Coles Backs Westpac, Commonwealth Bank, National Australia Bank, and Bendigo and Adelaide Bank in Apple Pay Fight

 In Australia, Coles, NewZealand
Retailers including Coles have thrown their support behind a push by several big banks to put their rivalry aside and negotiate as a bloc with Apple over its digital payments service.
Apple’s current constraints on "digital wallets" provided on the iPhone threaten to stifle innovation and competition, the retail industry’s peak body told the competition watchdog.
In what the banks say is a world first, Westpac, Commonwealth Bank, National Australia Bank, and Bendigo and Adelaide Bank are seeking an exemption from competition laws so they can negotiate as one, and launch a collective boycott of Apple Pay.
The move, if approved, is intended to pressure the technology giant to allow external apps to use part of the iPhone that allows tap and go payments, as Google does on Android phones. Sydney Morning Herald – Read more…

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