Australian banks build Apple Pay rival?

Three of Australia’s largest banks have partnered to build a mobile wallet and payment system for smartphones, in their continued fight against mobile payments rival Apple

That’s the Commonwealth, Westpac and NAB. Otherwise known as the “cry-baby three” who lost their fight with the ACCC to force Apple to grant them access to it’s NFC tech in the iPhone.

The app, which is available in trial at the moment at, appears to be a very weak copy of the popular, American based, Venmo.

While the banks are hoping many will jump on board and see the somewhat alternate method it provides using a QR based system instead of NFC, the proof will be in its small business adoption. That’s going to be tough considering the heavy penetration of NFC based EFTPOS terminals already in the market.

The reality of the situation, summed up perfectly by James Croft…

Source: Big three Aussie banks build Apple Pay rival – Finance – iTnews

Reckoner had its humble beginnings way back in June of 2013.

Founded by James Croft, along with Peter Wells and Anthony Agius they created what would go on to become one of Australia’s most highly regarded and award winning independent tech blogs.

With its uniquely Australian voice Reckoner is committed to offering a “no-holds-barred” approach to its writing. Beholden to no one but its audience. Reckoner’s goal is to remain completely transparent and honour the trust it’s built with its faithful readership.

Support Reckoner!
Thanks for stopping by. It looks like you're really enjoying the content so why not help a brother out and pitch in for a coffee.

Your support makes all the difference!