"Apple Pay "is available to all banks in Australia on fair and non-discriminatory terms."
Non-discriminatory to banks as long as Apple gets a cut.
That makes it 'discriminatory' for users as they have only one option: Apple Pay.
That is why my wife refuses to use it.
Apple is probably being deliberately obtuse on this one.
Let's see how governments rule on it.
Your wife won’t use Apple Pay because she resents that card issuing banks have to pay a small transaction fee? That’s an…interesting take. So, how does she feel about the fact that retailers have to pay (a larger fee) just to process credit cards!? She must not use any credit cards, huh?
Also, US banks reported the fraud savings was more than the fee to support Apple Pay.
early on, when chip cards were just coming out in the U.S. I asked my bank which I should use. They told me to use Apple Pay because it was the safest. That was enough for me.
Part of the issue here could have been the US being a decade late to the chip card party and your particular bank.
In the EU particularly things have moved ahead very quickly.
In Spain for example, I believe signature authentication was phased out years ago.
My banking app gives me absolute control over my cards. I can suspend and reactivate them at a touch of a button. I'm informed of every transaction that goes through.
Someone recently tried to open an account using my brother's ID information. That was thwarted by the bank simply communicating with him over a secure channel to confirm it with him.
PSD2 is being implemented across the board (although Amazon and some others seem to have wangled an exception), adding another layer of security to online purchases, although mine go through a virtual card anyway that doesn't have money on it until I 'charge' it.
The bank recommended I use Apple Pay instead of their chip card because it felt that Apple Pay was more secure. Today I get advisories from another of my cards to use Apple Pay instead of their chip card.
The bank recommended I use ApplePay instead of their using their own chip card directly because they felt that Apple Pay was more secure -- which it is. Even today, I get advisories from another of my cards suggesting that I use it through Apple Pay rather than directly (That is the one card I carry in case a place doesn't take Apple Pay -- although that's becoming more rare).
The rest of the stuff you mention applies whether you use the card directly or through Apple Pay.
Another advantage to it is that the merchant does not get your private information. That was the problem in one of the first big hacks that happened at Target: The hackers got a lot more information than just card numbers.
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The rest of the stuff you mention applies whether you use the card directly or through Apple Pay.