Australia's Bendigo Bank adds Apple Pay, having lost fight over iPhone NFC
Without access to the NFC chips in iPhones for a wallet of its own, Australia's Bendigo Bank on Tuesday officially launched support for Apple Pay.
The platform is now compatible with various credit and debit Mastercards issued by Bendigo. On an iPhone, people can add a card by launching the Wallet app then tapping on the "plus" icon. iPad owners must go into the Settings app and find the "Wallet & Apple Pay" menu -- something Apple Watch owners must also find, but from the Watch app on their iPhone.
In March, the Australian Competition and Consumer Commission effectively shot down attempts by several major banks to gain access to iPhone NFC. The companies argued that this would increase competition, choice, innovation, and investment in digital wallets, but the ACCC suggested it would disrupt Apple's hardware/software integration, and that the public might benefit from a platform where banks are forced to compete with each other and can't lock in customers.
Beyond integration, Apple has a vested interest in maintaining NFC exclusivity, since it earns a small fee from every Apple Pay transaction.
A number of banks and credit unions now support Apple Pay in Australia, one of Apple's most important markets in the Asia-Pacific region.
The platform is now compatible with various credit and debit Mastercards issued by Bendigo. On an iPhone, people can add a card by launching the Wallet app then tapping on the "plus" icon. iPad owners must go into the Settings app and find the "Wallet & Apple Pay" menu -- something Apple Watch owners must also find, but from the Watch app on their iPhone.
In March, the Australian Competition and Consumer Commission effectively shot down attempts by several major banks to gain access to iPhone NFC. The companies argued that this would increase competition, choice, innovation, and investment in digital wallets, but the ACCC suggested it would disrupt Apple's hardware/software integration, and that the public might benefit from a platform where banks are forced to compete with each other and can't lock in customers.
Beyond integration, Apple has a vested interest in maintaining NFC exclusivity, since it earns a small fee from every Apple Pay transaction.
A number of banks and credit unions now support Apple Pay in Australia, one of Apple's most important markets in the Asia-Pacific region.
Comments
... and if you were ONE of those 23.4 million people wanting Apple Pay?
So to sum up, a littlish bank, but not that little. Medium sized in the Oz market. I am surprised it tried to develop and promote its own solution rather than just adopt Apple Pay. What a waste of corporate resources and shareholder value.
ANZ is the one of the Big Four that has Apple Pay, and promotes it heavily. The rest of the finance industry that have Apple Pay (a growing list) tend to be smaller than Bendigo.
The remaining three of the Big Four, Westpac, Commonwealth and National are still pushing their own, little used payment apps. They won’t be successful but it will take a while for the self important, MBA execs who championed these strategies to either admit they are wrong or get sacked.
re Australian market, the population is small, however due to being affluent, English speaking, very high iPhone ownership rate, Apple often gives access to new roll out features before most of the rest of the region - often with the US market.
yes Australia only has a small population but we are early adapters of technology, rap and pay terminals are everywhere.
It is surly only a matter of time before Apple opens up full access to nfc, otherwise Apple users will be the losers. As an iPhone user I want to be able to tap and pay with my phone to pay my train fare, I want to use nfc to open my front door.
Not to mention that almost all iPhones are available in Oz before the US!