ACCC draft determination denies Australian banks' bid to bargain or boycott Apple Pay

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Comments

  • Reply 21 of 34
    Rayz2016Rayz2016 Posts: 6,957member
    I think the most telling thing here is that they want to wriggle out of the clause that prevents them from passing on the service charge to their customers.
    lostkiwiwatto_cobra
  • Reply 22 of 34
    sennen said:
    Good news. Australian banks, ie. the 'Big Four', already have too much power as it is. Looking forward to the inevitable Royal Commission.

    It won't happen while we have a former banker as PM.
    edited November 2016 iqatedolostkiwiwatto_cobra
  • Reply 23 of 34
    Surely 1 solution (apple pay), open to any bank is better for the end user/customer than several differing solutions that only work with certain banks, certain stores, certain accounts etc. If a customer wanted an alternative so badly, they could always buy an nfc equipped android phone. So the argument of competition and choice falls down there also.
  • Reply 24 of 34
    This notion that Apple is being unfair by blocking the banks completely flies in the face of standard practice:

    - Would McDonalds sell food from Burger King?
    - Would Starbucks sell coffee from Dunkin' Donuts?

    Providers are allowed to bundle unique services.  That's what "differentiation" is all about, and it's what separates winners from losers.

    If consumers don't like the "limited" offering from Apple, that's totally fine.  They are welcome to spend their money on an alternate solution (Android, etc.).  It's the perfect example of Free Market: put your offering out there and let consumers vote with their pocketbooks.

    brucemcjbdragonlostkiwiwatto_cobra
  • Reply 25 of 34
    fracfrac Posts: 480member
    In what world is a group of companies using "collective bargaining"...not a cartel and thus illegal? 
    Shades of iBooks 
    lostkiwiwatto_cobra
  • Reply 26 of 34
    jbdragonjbdragon Posts: 2,305member
    Who wants to be loading up some other APP to pay with? I'm not going to do it. If I can't just hold my phone or watch easily over a terminal, I might as well just use my credit card instead. Which is why I'll NEVER use Wal-Marts QR code paying option. I'm sure not going to use a bank App to pay. I'd rather just switch banks and take my business elsewhere.
    lostkiwiwatto_cobra
  • Reply 27 of 34
    anomeanome Posts: 1,533member
    frac said:
    In what world is a group of companies using "collective bargaining"...not a cartel and thus illegal? 
    Shades of iBooks 


    In a world where they went to the ACCC (or equivalent authority in your country) beforehand and asked for permission, and it was granted. (It would still be a cartel, but not an illegal one.)

    There's nothing wrong with them asking for permission to bargain collectively, as long as there is merit in their claims. As far as I can see, and judging by their interim ruling the ACCC seems to agree, there is no merit in their claims.

    watto_cobra
  • Reply 28 of 34
    brucemcbrucemc Posts: 1,541member
    wookie01 said:
    I'm an ANZ customer using Apple Pay everywhere that payWave is offered in Australia and it's a breeze (with the watch). 
    I hope the other scumbags are hemoraging customers and money
    I do same in Canada.  Apple Pay on the watch is really the best implementation.  And here a large portion of businesses take the contactless payments methods, up to $100.  I pay with it multiple times every day.  My debit card is not contactless (and I am not sure I would want it to be, given it is direct to bank account...) but I loaded the card into Apple Pay and now have contactless service for debit in a much more secure manner.

    As an aside, I find it somewhat amazing that a large portion of population still doesn't (or didn't) know about Apple Pay.  Half the time I use it I hear of someone (either in the checkout line, or at the store in question) say "hey, he just paid with his watch...".
    lostkiwiwatto_cobra
  • Reply 29 of 34
    brucemcbrucemc Posts: 1,541member
    This notion that Apple is being unfair by blocking the banks completely flies in the face of standard practice:

    - Would McDonalds sell food from Burger King?
    - Would Starbucks sell coffee from Dunkin' Donuts?

    Providers are allowed to bundle unique services.  That's what "differentiation" is all about, and it's what separates winners from losers.

    If consumers don't like the "limited" offering from Apple, that's totally fine.  They are welcome to spend their money on an alternate solution (Android, etc.).  It's the perfect example of Free Market: put your offering out there and let consumers vote with their pocketbooks.

    Or as another poster here said, no bank app allows you to access your accounts with a separate bank.  Somehow the hypocrisy of their request is lost on management...
    lostkiwiwatto_cobra
  • Reply 30 of 34
    subbies said:
    Fuck em I say. I'm with the only Australian bank that has adopted Apple Pay and I use it every time I make a purchase. Every shop in Australia accepts Apple Pay. 
    Actually there's 33+ options in Australia now:

    - AMEX card direct from AMEX. No PIN required for Apple Pay.

    - ANZ cards. Visa cards require a PIN over $100. ANZ issued AMEX & Mastercard do not.

    - a group of 30+ smaller banks, credit unions and building societies also now offer Apple Pay
    (Defence Bank, Police Credit Union etc). Same PIN constraints as ANZ.

    ANZ has said they've had their largest growth ever in issuing cards, since they started Apple Pay, but they haven't said anything much more detailed than that.

    The commercial pressure on the big 3 holdouts will make it inevitable, especially if the final ruling is much the same as the draft.

    It's really just hubris/arrogance/greed/bullying/not-invented-here behaviour. CBA had recently invested heavily in their own proprietary stack and it does seem like they are miffed that Apple Pay basically demolished them from an ease of use perspective.
    lostkiwiwatto_cobra
  • Reply 31 of 34
    anomeanome Posts: 1,533member
    uroshnor said:
    subbies said:
    Fuck em I say. I'm with the only Australian bank that has adopted Apple Pay and I use it every time I make a purchase. Every shop in Australia accepts Apple Pay. 
    Actually there's 33+ options in Australia now:

    - AMEX card direct from AMEX. No PIN required for Apple Pay.

    There were rumours early on that AmEx wouldn't require a PIN for Apple Pay, but one of my early efforts with AmEx just after Apple Pay became available was over $100 at a national supermarket chain. Because it was over $100, the checkout refused to process the transaction without a PIN, and for whatever reason, it wouldn't accept the PIN for my AmEx.

    I ended up having to process it on another checkout with my actual card.

    I'm not sure if the problem was AmEx's, the supermarket's, or their EFTPOS provider's fault. They might have fixed it by now, but I don't think I've actually tried it since.

  • Reply 32 of 34
    I said screw you to Westpac back in May. Much better experience with ANZ. 

    I think the main point is the holdouts want to pass Apple's fee onto the customer. 
  • Reply 33 of 34
    "...consumer choice and innovation..." read: "clunky interface and consumer-pays transaction fees for all non CommBank payments". There's a reason the big four are the most profitable banks in the world and it's definitely not a love of consumers.

    stompymattinoz
  • Reply 34 of 34
    iqatedoiqatedo Posts: 1,822member

    Bankwest has just implemented androidpain, go figure @wookie01 @aussiepaul @anantksundaram ;
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