Apple won a remarkable battle against Australian bank for its application for mobile payments. This decision could have consequences for the whole world.
The tech giant does not allow any its banking partners access to the Apple Pay software underpinning its contactless payment systems.
Four of the largest banks in Australia had appealed to regulators to allow them to bypass the fees charged by Apple, allowing them to develop their own technology. They argue that the restriction to develop their own digital wallets is ultimately bad for consumers.
About 3,500 lenders in 15 countries use Apple Pay to process contactless payments.
Apple spokesman hailed the decision, saying it will be a boost for Australians who wanted the “easiest, most secure and private payment experience possible”.
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