The group of four banks collectively bargaining for access to the iPhone’s near-field communication (NFC) technology have baulked at settling for payment alternatives such as Android Pay, calling them “unrealistic” in the Australian market. The Commonwealth Bank of Australia (CBA), Westpac Banking Corporation, the National Australia Bank (NAB), and Bendigo and Adelaide Bank have been seeking regulatory approval since mid-last year to collectively negotiate with third-party mobile providers such as Apple on conditions relating to competition, best practice standards, and efficiency.
Link: Banking cartel calls Apple Pay alternatives ‘unrealistic’ in Australian market
via http://www.zdnet.com
