Final 'big four' Australian bank folds, announces Apple Pay rollout by mid-2020

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Comments

  • Reply 21 of 41
    iqatedo said:

    Good! If consumers want something other than Apple Pay, they can buy a different device. Simple.

    It's at the point in Australia where you're pretty safe to go shopping, eating and clubbing without taking a physical credit card. You can make almost all (if not absolutely all) payments from an Apple watch. Public transport is the hold-out. I guess that competition doesn't exist in the sector, hence the lack of imperative to modernize.
    In NSW Apple Pay is accepted on trains/lightrail, busses and ferries (and of course taxis) - which state's public transport service is the hold out? (https://transportnsw.info/tickets-opal/opal/contactless-payments)
    edited December 2019 lostkiwiwatto_cobra
  • Reply 22 of 41
    iqatedo said:

    Good! If consumers want something other than Apple Pay, they can buy a different device. Simple.

    It's at the point in Australia where you're pretty safe to go shopping, eating and clubbing without taking a physical credit card. You can make almost all (if not absolutely all) payments from an Apple watch. Public transport is the hold-out. I guess that competition doesn't exist in the sector, hence the lack of imperative to modernize.
    In NSW Apple Pay is accepted on trains/lightrail, busses and ferries (and of course taxis) - which state's public transport service is the hold out? (https://transportnsw.info/tickets-opal/opal/contactless-payments)
    Agreed. Just travelled the Metro today with only my iPhone and now with my NSW drivers license on my iPhone I can drive without a card or wallet.
    watto_cobra
  • Reply 23 of 41
    iqatedo said:

    Good! If consumers want something other than Apple Pay, they can buy a different device. Simple.

    It's at the point in Australia where you're pretty safe to go shopping, eating and clubbing without taking a physical credit card. You can make almost all (if not absolutely all) payments from an Apple watch. Public transport is the hold-out. I guess that competition doesn't exist in the sector, hence the lack of imperative to modernize.
    There is no Competition on the London Underground yet... they went contactless years ago and recently speeded up the Apple Pay approval.
    watto_cobra
  • Reply 24 of 41
    jcbigears said:
    I've got to agree that Australia has been way ahead with many banking technologies like the cards with the in-built chips a few decades ago and with "tap and go" technologies like ApplePay. I only carry my phone with the driver's license when I go out and that's all I need. Haven't touched cash for years.

    Having said all that, though, "HEY, TIM COOK, CAN WE NOW GET THE ECG FUNCTION ACTIVATED ON OUR APPLE WATCHES DOWN HERE?"

    In NZ, I  believe the issue is not Apple, but the lack of support for e-SIM’s in NZ that stops us having us having an independent watch, second number etc. Is ECG functionality something extra to this; or is e-Sim not supported in Aus as well?

    watto_cobra
  • Reply 25 of 41
    I haven't had to use a bank card anywhere for a couple of years now. Public Transport/Drivers Licence is the last remaining hurdle for most. But I just keep those cards with my phone. 
    Not sure what city you’re in, but in Sydney you can now use credit-card/ApplePay on all state-run transport. Plus you can get a valid digital driver’s license on your phone as of about a month ago. Police have to accept it - not every business might recognise it yet. 
    watto_cobra
  • Reply 26 of 41
    razorpitrazorpit Posts: 1,796member
    sflocal said:
    ktappe said:
    sflocal said:
    ApplePay needs to be more mainstream at gas stations as well.  They are slowly showing up and I frequent those that do.  I think that is when it will reach critical mass here in the U.S.

    I don't know where you are geographically, but if you're near a Wawa (Philly area and expanding across Florida), they support ApplePay.  I specifically go there for gas as a result, so the rest of the stations that either don't support it (or don't tell me they do) are losing out.
    I’m in San Francisco.  So far, I’ve come across two gas stations in the entire bay area that allows Apple Pay.  None of them are in San Francisco. 
    Wow, I find that surprising considering your location. Off the top of my head I don’t know of any in the Pittsburgh area. What kills me are the stations putting in new pumps and even those don’t support it. What are those owners/managers thinking? Pumps are something designed to last 10 years or so.

    I go back to putting a lot of this on Apple. They need to be the ones educating vendors, stores, etc. on the technology and the value that it brings, and stop relying on the banks to openly adopt ApplePay. The banks obviously don’t want to give up their control, and who could blame them?

     Apple, stop thinking they will on their own. You have to go to these businesses and have them demand better from their banks.

    Is this what’s really happening? I don’t know, but that’s the way I see it after putting 2 and 2 together.
    watto_cobra
  • Reply 27 of 41
    iqatedoiqatedo Posts: 1,820member
    iqatedo said:

    Good! If consumers want something other than Apple Pay, they can buy a different device. Simple.

    It's at the point in Australia where you're pretty safe to go shopping, eating and clubbing without taking a physical credit card. You can make almost all (if not absolutely all) payments from an Apple watch. Public transport is the hold-out. I guess that competition doesn't exist in the sector, hence the lack of imperative to modernize.
    In NSW Apple Pay is accepted on trains/lightrail, busses and ferries (and of course taxis) - which state's public transport service is the hold out? (https://transportnsw.info/tickets-opal/opal/contactless-payments)
    One can purchase public transport tickets probably everywhere using Apple Pay and of course, pay for taxis. However, in some states, direct payment (at the gate) with Apple Pay isn't possible. When ticket inspections occur on trains in NSW, how does one demonstrate having paid the fare (without a ticket or transit card)?
    watto_cobra
  • Reply 28 of 41
    What I want to know is when are sit-down restaurants in the U.S. gonna get with the program? Nice getting cash back at fast food favorites, but I want to get something back on my fine dining bills where it really matters. Probably have to wait until we catch up with the rest of the world where they bring the wireless terminal right to your table. 
    I had lunch yesterday at Applebee's (in RI).  There's a terminal right at the table that accepts Apple Pay.  Gas stations are in the process of setting up Apple Pay at the pumps, but I don't know of any that are activated yet.  Interestingly, at some full-service stations, the pumper guy/girl carries a portable payment device that accepts Apple Pay.
    watto_cobra
  • Reply 29 of 41
    wood1208wood1208 Posts: 2,902member
    Good for those bank's customers. I wish ApplePay is everywhere so I don't have to carry my credit card again. When I told my daughter to use ApplePay, she said, it definately convenience and secure transaction but you have to remember which place ApplePay accepted and not, so end up carrying physical credit card/s and end up using credit card/s at places where ApplePay is accepted. .
  • Reply 30 of 41
    wood1208wood1208 Posts: 2,902member
    What I want to know is when are sit-down restaurants in the U.S. gonna get with the program? Nice getting cash back at fast food favorites, but I want to get something back on my fine dining bills where it really matters. Probably have to wait until we catch up with the rest of the world where they bring the wireless terminal right to your table. 
    I had lunch yesterday at Applebee's (in RI).  There's a terminal right at the table that accepts Apple Pay.  Gas stations are in the process of setting up Apple Pay at the pumps, but I don't know of any that are activated yet.  Interestingly, at some full-service stations, the pumper guy/girl carries a portable payment device that accepts Apple Pay.

    Once ApplePay is accepted at Gas station(hopefully Costco does it soon), they will able to stop that hack(stealing money,credit card info) at the gas terminals that recently reported.
    lostkiwirazorpitwatto_cobra
  • Reply 31 of 41
    What I want to know is when are sit-down restaurants in the U.S. gonna get with the program? Nice getting cash back at fast food favorites, but I want to get something back on my fine dining bills where it really matters. Probably have to wait until we catch up with the rest of the world where they bring the wireless terminal right to your table. 
    Olive Garden takes Apple Pay now, just went there a couple weeks ago.
    watto_cobra
  • Reply 32 of 41
    sflocal said:
    ktappe said:
    sflocal said:
    ApplePay needs to be more mainstream at gas stations as well.  They are slowly showing up and I frequent those that do.  I think that is when it will reach critical mass here in the U.S.

    I don't know where you are geographically, but if you're near a Wawa (Philly area and expanding across Florida), they support ApplePay.  I specifically go there for gas as a result, so the rest of the stations that either don't support it (or don't tell me they do) are losing out.
    I’m in San Francisco.  So far, I’ve come across two gas stations in the entire bay area that allows Apple Pay.  None of them are in San Francisco. 
    I was at a Chevron in downtown San Francisco that took Apple Pay. Surprised me.
    watto_cobra
  • Reply 33 of 41
    entropysentropys Posts: 4,135member
    jcbigears said:
    I've got to agree that Australia has been way ahead with many banking technologies like the cards with the in-built chips a few decades ago and with "tap and go" technologies like ApplePay. I only carry my phone with the driver's license when I go out and that's all I need. Haven't touched cash for years.

    Having said all that, though, "HEY, TIM COOK, CAN WE NOW GET THE ECG FUNCTION ACTIVATED ON OUR APPLE WATCHES DOWN HERE?"

    In NZ, I  believe the issue is not Apple, but the lack of support for e-SIM’s in NZ that stops us having us having an independent watch, second number etc. Is ECG functionality something extra to this; or is e-Sim not supported in Aus as well?

    Nah, probably Apple hasn’t bothered asking for regulatory approval for ECG from domestic health regulators. So it is just turned off.
    edited December 2019
  • Reply 34 of 41
    sflocal said:
    ApplePay needs to be more mainstream at gas stations as well.  They are slowly showing up and I frequent those that do.  I think that is when it will reach critical mass here in the U.S.
    As it stands today, the card reader liability shift for fuel dispensers is Oct 1, 2020. I expect that while many stations will just update to chip terminals, some will add NFC readers as well. You may see things start to change next summer.
    razorpitwatto_cobra
  • Reply 35 of 41
    jcbigears said:
    I've got to agree that Australia has been way ahead with many banking technologies like the cards with the in-built chips a few decades ago and with "tap and go" technologies like ApplePay. I only carry my phone with the driver's license when I go out and that's all I need. Haven't touched cash for years.

    Having said all that, though, "HEY, TIM COOK, CAN WE NOW GET THE ECG FUNCTION ACTIVATED ON OUR APPLE WATCHES DOWN HERE?"


    Yeah good point, although this is not Apple its Australia Health Dept decision.
    watto_cobra
  • Reply 36 of 41
    So if I can paraphrase Westpac, "We need a further six months so we can be officially four years behind".
    So true, so slow. Just stunk of corporate greed, rather than serving what their customers wanted. 4 years to implement the technology and now an additional 6 months to roll it out. At least it is finally coming, probably on the back of so much negative publicity. I was literally about to switch banks, I was just in the process to move all my personal and business to another bank.

    It doesn't make it all ok now though because of how long this took but it is a welcome relief to finally see this is going to happen. Finally, 4 years on.
    edited December 2019 watto_cobraJesusHSmith
  • Reply 37 of 41
    FYI Westpac in in some deep, deep doodoos' and they are going to get hit very hard by the regulators. They're in major PR mode right now and this might be why the iPhone issue has been resolved but not yet implemented.

    Business Insider 20 Nov 2019 -
    Westpac systemically failed to follow anti-money laundering laws and, in doing so, allowed money suspected to have been funding child exploitation to flow freely, the financial crimes regulator AUSTRAC* has alleged on Wednesday.

    * Australian Transaction Reports and Analysis Centre is Australia’s financial intelligence unit and its anti-money laundering and counter-terrorism financing regulator. (I added this bit)

    “Westpac failed to … carry out appropriate customer due diligence on transactions to the Philippines and South East Asia that have known financial indicators relating to potential child exploitation risks,”

    AUSTRAC said in a statement. “Westpac failed to introduce appropriate detection scenarios to detect known child exploitation typologies, consistent with AUSTRAC guidance and their own risk assessments.”

     In total, Austrac alleges Westpac violated anti-money laundering and counter-terrorism financing (AML/CTF) laws more than 23 million times. Specifically, a dozen customers have been identified by the regulator as posing “known child exploitation risks”.

     Despite this, Westpac is alleged to have failed to monitor and prevent suspicious activity from their accounts.
    edited December 2019 chia
  • Reply 38 of 41
    entropysentropys Posts: 4,135member
    Well, if you avoid the journo speak rhetoric, it seems there may have been a handful of dodgy transactions out of millions.  I would not be so keen to lump this all in Westpac’s camp, as it was Westpac that picked up the issue and self reported after all. And of course there is Westpacs creaky systems which is also probably why it is the last to move to Apple Pay.
    anyway, the so called regulator AUSTRAC that is supposed to detect this kind of thing did not pick it up, but certainly did a lot of loud hyperventilating afterwards to give the impression it was doing its job. When in fact if westpac hadn’t self reported the regulator would not have known. 

    So criticise Westpac for not updating its systems sooner, sure. But spare some grief for the regulator too. They were asleep at the wheel. Your tax dollars at [kinda] work.
    watto_cobra
  • Reply 39 of 41
    anomeanome Posts: 1,531member
    tiffany said:
    FYI Westpac in in some deep, deep doodoos' and they are going to get hit very hard by the regulators. They're in major PR mode right now and this might be why the iPhone issue has been resolved but not yet implemented.

    Business Insider 20 Nov 2019 -
    Westpac systemically failed to follow anti-money laundering laws and, in doing so, allowed money suspected to have been funding child exploitation to flow freely, the financial crimes regulator AUSTRAC* has alleged on Wednesday.

    * Australian Transaction Reports and Analysis Centre is Australia’s financial intelligence unit and its anti-money laundering and counter-terrorism financing regulator. (I added this bit)

    “Westpac failed to … carry out appropriate customer due diligence on transactions to the Philippines and South East Asia that have known financial indicators relating to potential child exploitation risks,”

    AUSTRAC said in a statement. “Westpac failed to introduce appropriate detection scenarios to detect known child exploitation typologies, consistent with AUSTRAC guidance and their own risk assessments.”

     In total, Austrac alleges Westpac violated anti-money laundering and counter-terrorism financing (AML/CTF) laws more than 23 million times. Specifically, a dozen customers have been identified by the regulator as posing “known child exploitation risks”.

     Despite this, Westpac is alleged to have failed to monitor and prevent suspicious activity from their accounts.
    In fairness, this is no worse than what the Commonwealth Bank was caught doing a couple of years ago. Now was that before or after they started implementing Apple Pay?

    So I return to my original thesis - banks are bastards. Either they're a small bank and screw their personal banking customers on fees and interest, or they're massive multinational entities, and they're involved in all sorts of criminal activity, and they screw their personal banking customers on fees and interest.
    watto_cobra
  • Reply 40 of 41
    This has bigger implications which is all good for me. I do t like Westpac I find their policies on auto payments to be stupid but the bank I’m with is a small New Zealand bank who uses Westpac to provide their debit cards. This move by Westpac could open up my bank to allowing Apple Pay. If this is the case the. I’d close my ANZ account.
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