Apple responds to Aussie bank ‘cartel’ regarding ACCC lodgement

Apple Pay

Apple has launched a blistering attack on three of Australia’s big banks, saying their request to collectively negotiate over digital wallet access to the iPhone will compromise the handset’s security, reduce innovation and blunt Apple’s entry into the payments market in Australia.

Apple told the Australian Competition and Consumer Commission that “allowing the banks to form a cartel to collectively dictate terms to new business models and services would set a troubling precedent and delay the introduction of new, potentially disruptive technologies”.

Apple are right. When was the last time you considered something your bank did “innovative”? I’d wager never.

That said, Apple are essentially putting the onus back on themselves. Should they end up in Samsung’s current predicament they may very well wish they could blame the banks.

 

Source: Apple says Australia’s banks pose a security threat to iPhones

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