Apple Scores Victory Over Australian Banks in Apple Pay Spat
- Regulator dismisses banks’ bid to form negotiating bloc
- Proposal likely to ‘distort competition,’ regulator says
This article is for subscribers only.
Apple Inc. has seen off efforts by Australia’s banks to form a negotiating bloc over the introduction of Apple Pay, a win for the U.S. technology giant in the global battle to control the future of mobile payments technology.
In a final ruling released on Friday, the Australian Competition & Consumer Commission said it was upholding its preliminary decision in December to refuse the banks permission to negotiate collectively.