What's New in Payments

National Australia Bank goes live with Apple Pay

Australian ‘big four’ bank NAB adopts Apple Pay, Westpac lone holdout — AppleInsider — “National Australia Bank (NAB) on Monday announced immediate support for Apple Pay, becoming the third of Australia’s ‘big four’ banks to integrate with Apple’s payments platform after a failed boycott… With NAB on board, Westpac becomes the last of Australia’s ‘big four’ banks to resist Apple Pay.”




What's New in Payments

Australian banks launch Beem It P2P payments app

Big bank-backed Beem It launches Aussie payments app — ZDNet — “The Commonwealth Bank, NAB, and Westpac joined forces to create Beem It, allowing the real-time transfer of funds… The app enables sending and receiving money, with an interface reminiscent of a social media app… ‘It’s using Eftpos, and Visa debit card payment rails,’ Beem It chief product and development officer Deepesh Banerji said.”


National Australia Bank integrates with Amazon Alexa

Hands-free banking: ‘Alexa, ask NAB if I’ve been paid’ — National Australia Bank — “The NAB skill for Amazon Alexa will allow customers, who have connected Alexa with their NAB account to ask their Alexa device questions like: ‘What’s my savings account balance?’, ‘How much do I owe on my credit card?’ or ‘Did I get paid this week?’… ‘In the future, we certainly see this experience turning into one where you can pay bills, make funds transfers or even purchase items at the command of your voice.’”


What's New in Payments

Garmin Pay adds support for Visa credit, debit and prepaid cards

Garmin and NXT-ID subsidiary FitPay expand Garmin Pay to Visa accountholders — Garmin and NXT-ID — “Garmin Pay is now available to Visa accountholders from numerous participating issuing banks including Bank of America, Capital One, and US Bank in the United States, and BonusCard, Cornér Bank, ANZ and NAB (National Australia Bank) internationally… Garmin Pay was initially launched in November 2017 for Mastercard accountholders.”


What's New in Payments

Australian banks form digital payments joint venture

NAB, Westpac and CBA team up with new payments app, Beem — The Sydney Morning Herald — “Three of the country’s banking giants are joining forces to allow instant payments between people or to small businesses via a smartphone, with plans to ultimately roll out a cross-industry ‘digital wallet’… The app will be the first service offered by a new digital payments joint venture that has been formed between CBA, NAB and Westpac… ANZ is not part of the joint venture but it has been involved in some of the discussions with rivals, and it may sign up in the future.”


What's New in Payments

Australian banks lose fight to gain access to NFC functionality in Apple iPhones

Apple Australia

The group of Australian banks seeking stronger negotiating powers with Apple over the NFC technology within its iPhone handsets have been denied access to it by the Australian Competition and Consumer Commission (ACCC) on the grounds that the proposed conduct would “reduce or distort competition in a number of markets” and that the benefits are “outweighed by the detriments”. More


What's New in Payments

Australian banks brand non-NFC alternatives to Apple Pay ‘unrealistic’

iPhone SE

Relying on Android or alternatives to NFC for successful mobile payment services in a country with one of the world’s largest iPhone market shares and high contactless card use is “unrealistic”, the group of Australian banks seeking access to the iPhone’s NFC functionality say in their latest submission to the Australian Competition and Consumer Commission (ACCC)... More


What's New in Payments

Australian banks drop Apple Pay fee request to focus on iPhone NFC access

iPhone

The group of Australian banks arguing for the right to collectively negotiate with Apple over the introduction of Apple Pay in the country have dropped their request to jointly arrange how to “pass-through” additional fees Apple imposes on its mobile payment service, and will now focus solely on gaining access to the NFC functionality within the iPhone... More


What's New in Payments

Australia’s retailers join the banks in their battle with Apple Pay

Australian Retailers Association

The Australian Retailers Association (ARA) has come out in support of the group of four Australian banks seeking stronger negotiation powers with Apple over the introduction of Apple Pay in the country, saying they believe access to the NFC functionality in the iPhone would allow retailers to provide “a richer and more convenient customer experience”... More


What's New in Payments

Apple Pay boss claims Australians will be ‘happy to switch banks’ for the mobile payments service

Apple's Jennifer Bailey

Apple Pay boss Jennifer Bailey says she believes Australians will be “happy to switch banks” in order to use Apple Pay, while the group of four Australian banks wanting the ability to collectively negotiate with Apple over the introduction of the mobile payments service risks “being left behind” in the development of digital wallets by doing so... More


What's New in Payments

Apple accuses Australian banks of Apple Pay transaction fee ‘trojan horse’

Apple Pay

Australian banks are using fees on Apple Pay transactions as a “trojan horse” to discourage the use of its mobile payments service and to condition consumers to accept transaction fees with the “longer term view to setting a precedent for charging for mobile payments on other digital wallets,” Apple claims in its latest submission to the Australian Competition and Consumer Commission (ACCC)... More