(via NFC World)
The group of Australian banks taking on Apple over access to the NFC technology within iPhone handsets says the restriction is not only preventing the introduction of mobile wallet services across multiple platforms but also proving detrimental to continued investment into mobile payment apps.
In a 27-page submission to the Australian Competition and Consumer Commission (ACCC) this week, the four banks insist Apple’s restriction is fragmenting the customer experience and, without access, there “simply will not be the same incentives and ability to innovative” on either… Continue reading
Competition, rising costs, regulation: why Australian banks are finding it tough
Australian banks have seemed an almost bullet-proof investment in recent times. Unlike just about anywhere in the world this nation’s banks have had uncanny knack of delivering bumper profits and dividends even in a soft broader economy.
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