Right, they should give some customers special pricing because they're greedy? And THAT is greedy to not do so?
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Australian Banks Denied Request to Negotiate Over Apple Pay
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Right, they should give some customers special pricing because they're greedy? And THAT is greedy to not do so?
What are you saying?
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Access to the NFC chip is just a piece of hardware!
Then ask the banks why they're complete idiots for supporting Apple Pay and accepting the fee.
I'm betting the British, Canadian, and Aussie financial institutions are paying next to nothing to Apple vs what the US institutions are paying (those institutions gave up next to nothing and Apple gained penetration.) I mean hell, the American institutions are so far behind that an incredibly high percentage of users still have to swipe their magnetic strip cards at merchants - no wonder they were welcoming Apple Pay - they had nothing before.
It's far cheaper for the banks to build their own tool than pay licensing to Apple in the long run. Also, Android phones already allow all apps to access the NFC chip, and I don't think it's as insecure as Apple wants everyone to think.
Sign the petition to make Australian banks join ApplePay and also AndroidPay/SamsungPay. Apple barely charges in the UK just so the banks hop on ApplePay (Much less than the USA) so the same could be done in Australia. AndroidPay/SamsungPay don't even charge a fee yet the major banks haven't hopped on board. ANZ is the only major bank to hop on board both.
https://www.change.org/p/commonwealth-bank-bring-applepay-androidpay-samsungpay-to-commbank-others
https://www.change.org/p/commonwealth-bank-bring-applepay-androidpay-samsungpay-to-commbank-others
You sound like Apple's going to charge Australian banks the same 0.15% that they charge US ones when in reality it'll probably be closer to the near zero that they charge the UK/Canadian/etc. ones. And if it gets more people to open accounts and carry balances, Apple Pay will still make the banks money anyway.
How would it make the banks more money in Australia, when for all intents and purposes the big four already have practically the entire population as customers already?
Sounds like a fair number are moving to ANZ right now since they're the only bank that supports it. It's probably more accurate to say that the other three would stop losing their share of the market.
Nothing more than ANZ PR spin ... hard to quantify by outside sources ... did the supposed newcomers just sign up with a $50 savings account to get access to Apple Pay OR did they move their entire account over i.e. mortgages, lines of credit, etc?
ANZ won't earn many fees from those McDonald's purchases.
Why would they need to need to move anything other than credit cards and deposit accounts over for it to "count"? Besides, not everyone pays their entire balances off every month.
Well, with Apple, I am the customer, so our interests are aligned. Apple profits by selling me a great user experience and Apple Pay is simply an extension of that.
Well you can go ahead with that, I can hope that Apple grants access to the NFC chip so I can use the app my bank uses to make payments.
Apple Pay is neat and Apple did a great job integrating it with their hardware, but they didn't invent or develop NFC. They just repackaged an existing technology as "Apple Pay." They even did this well after Android phones offered the same feature.
I put UX above all else and so does Apple. There's a reason why Apple is so successful. I want to feel good when using products and services.
Yeah, it was called Google Wallet 4 years ago and it was a piece of crap. The whole reason digital payments has gotten any traction at all is because of Apple Pay.
It's more then a simple repackaged product. Its tightly integrated with the secure element to protect the transaction. Android phones do not offer the same ease and security that Apple has developed with Apple Pay. Opening up the NFC chip to bank apps without compromising the existing level of security would require more development which costs money which is something the banks want Apple to do for free.
I don't see how the banks will win this in the end. The request will be denied. How can three Australian banks force an AMERICAN company to open up access to the NFC chip when the FBI can't even force Apple to unlock an iPhone.
Either sign up for Apple Pay or don't. Don't run crying to the government when people leave you for a bank that does when you had the exact same opportunity to offer it and didn't take it.
Your intuition is correct.
Research in the UK a few years back showed that people tended to spend about 20% more on quickie purchases if they were using a convenient contactless card/device.
It was this statistic that helped lure American banks into paying Apple. Unfortunately, the banks did not figure into their calculations the fact that the US was lacking the same percentage of widespread contactless terminals, and a history of people using contactless cards.
Ok this is something that pisses me off but this is what apple doesn't realize.
For about 5 years now we have had PayPass and PayWave in our credit cards. I.E tap and go payments. We've had them for years so the idea that this technology is brand new is just absurd.
About 1.5 years to 2 years ago we got rid of signatures on cards (so now you MUST use a PIN) so we are pretty ahead with this unlike the US.
It's been a long time since I've had to swipe a card. I have just moved to the US and keep having to sign for stuff.
When Apple Pay came along I expected this to happen. Apple wants to charge them more and they are basically telling Apple to get lost.
Amex is weird in Australia. Places take it but not necessarily contactless because they didn't implement contactless chips in their cards right away. Places also charge you more to use Amex.
For about 5 years now we have had PayPass and PayWave in our credit cards. I.E tap and go payments. We've had them for years so the idea that this technology is brand new is just absurd.
About 1.5 years to 2 years ago we got rid of signatures on cards (so now you MUST use a PIN) so we are pretty ahead with this unlike the US.
It's been a long time since I've had to swipe a card. I have just moved to the US and keep having to sign for stuff.
When Apple Pay came along I expected this to happen. Apple wants to charge them more and they are basically telling Apple to get lost.
Amex is weird in Australia. Places take it but not necessarily contactless because they didn't implement contactless chips in their cards right away. Places also charge you more to use Amex.
You have choice! No one forces you to be a consumer of a particular company! But of course you would aim for the best which comes with a price in a human world.
As an American, I can say that I'm envious how the technology has evolved overseas and we're still using magnetic stripes at so many places (and others waiting for their EMV readers to get certified). That being said, a small chunk of places here took MasterCard PayPass/Visa PayWave/Amex ExpressPay/Discover Zip earlier, but only a few banks issued cards with antennas, and it never really caught on. I think the fear of "someone stealing your card info by standing near you" didn't help. Thankfully, the infrastructure was there and allowed a handful of places that weren't Apple Pay "partners" to work at launch (and work for people with Google Wallet before that). Meijer is a grocery/superstore chain in the Midwest and their store card was a contactless MasterCard—they made sure that every terminal and even the gas pumps had readers, which has been great for Apple Pay.
Typically, the signature requirement is set by a particular threshold by the store. It's annoying, especially since some chains and cashiers think that checking a signature counts as verification. Then there's the payment terminals that you sign and they never see either part of it—I have a friend who used to sign with cartoon character names or other things just to prove how much it didn't matter.
I can't speak for Amex in Australia, but I do know that some people had issues with how cards got coded in Apple Pay and how certain merchants "expected" them early on - a lot of MasterCard issues at Home Depot, and Discover has had some issues here and there. For the most part, Visa and Amex have been good here, but I can understand the similar troubles.
Not true, I've made an $1,100 purchase yesterday at Bunnings on ApplePay and it worked fine.