Apple has launched a blistering attack on three of Australia's big banks, saying their request to collectively negotiate over digital wallet access to the iPhone will compromise the handset's security, reduce innovation and blunt Apple's entry into the payments market in Australia.
In a sign of growing acrimony between the world's largest company and the Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corp, Apple told the Australian Competition and Consumer Commission that "allowing the banks to form a cartel to collectively dictate terms to new business models and services would set a troubling precedent and delay the introduction of new, potentially disruptive technologies".
The three large banks made an application in late July with Bendigo and Adelaide Bank seeking authorisation to collectively negotiate with the technology giant, which has locked the banks and other third-party providers of digital wallets off the iPhone platform in favour of its own Apple Pay.
In a pithy, three-page submission to the ACCC, Apple says providing access to the phone's transmitter to allow bank applications to facilitate contactless payments would compromise the security of Apple's hardware.
(Score: 5, Insightful) by bob_super on Wednesday August 10 2016, @09:43PM
> the world's largest company
In employees? LOL
In sales? Nowhere near the top.
In actual value? Saudi Aramco and CNPC would like to have a chat with you
In US dollars based on US market capitalization? Ah, yes, you should have started with that. If I wanted narrow-minded US horn-tooting I'd watch the Olympic on NBC.