Four Banks in Australia's Boycott Apple App Play

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 The era of cashless payment cashless digitally alias apparently made a number of banks in Australia worried.

Four Australian banks insist on negotiating with Apple Inc over mobile digital payment service that is Apple Pay.


The bankers want Apple incur additional charges for transactions made via Apple Pay.


Four Australian banks were sued Apple Pay service is the Commonwealth Bank of Australia, Westpac Banking Corp., National Bank of Australia and Bendigo & Adelaide Bank.


The fourth bank is threatening to boycott the service Appel Pay for three years to find a negotiated settlement. Reuters reported that Bank of Australia believes there is an imbalance of the services provided Apple Pay.


Apple Pay allows its like getting a credit card.


With Apple Pay, the payment of goods or services is quite simply by swiping the device to a contactless payment terminal.


Well, there is injustice protested bank fees from payments technology Apple has to offer.As reported by Bloomberg, Australian banking working to strengthen its negotiating position with Apple.


A consortium of banks will continue to struggle to negotiate with Apple until the final decision of the Competition Commission and the Australian Consumer in March 2017.


They worry that the widespread use of contactless payment cards in Australia makes Apple's mobile payment market to seize this kangaroo country.

Currently, payments in cash in Australia continues to fall. Australians are now increasingly abandoned the use of cash as a payment instrument.


Consumers today are turning to electronic payment methods, especially for smaller transactions.Quoted from the ABC, during the year 2015 to 2016 the volume of payment card transactions in Australia reached 6.9 billion.


Card payments transaction value reached US $ 538 million, up 7% year on year.Although despised by four Australian banks, other banks interest to establish partnerships with Apple Pay persists.


Some banks believe Apple Pay can help businesses to gain new customers and offering the latest products of the bank.


Australia and New Zealand Banking Corp (ANZ) became the bank formed a partnership with Apple Pay.Even ANZ confident partner with Apple Pay will add new customers.


ANZ CEO Shayne Elliot sure Apple's digital wallet services attract revenue for the bank.


"Wallet phones have attracted young professionals. This has been seen with their desire get- products in ANZ," said Elliot.


While Apple spokesman forward to collaborating with other banks in Australia to help their customers.

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