A group of banks has lost its fight with Apple over the iPhone-maker’s payments platform.
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A group of banks that have sought the right to act as a cartel in negotiations with Apple over the iPhone maker’s Apple Pay platform have narrowed the scope of their application to the Australian Competition and Consumer Commission (ACCC).
The Australian Competition and Consumer Commission will not authorise a group of banks to band together for negotiations with Apple over the iPhone maker’s Apple Pay platform, states a draft decision issued today by the ACCC. A final decision is not expected until March next year.
A group of banks has confirmed that, at present, only Apple Pay is targeted by an application to the Australian Competition and Consumer Commission that would allow them to engage in a collective boycott of digital wallet services.
The Australian Competition and Consumer Commission (ACCC) has pushed back the timeframe for releasing a draft decision in a stoush between some of Australia’s biggest banks and Apple.
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