Australia’s anti-trust regulator yesterday said it would not grant the nation’s three biggest banks interim approval to collectively negotiate with Apple Inc to install their own electronic payments applications on iPhones.
Australia’s three biggest banks, including No. 1 lender National Australia Bank Ltd, last month lodged a joint application seeking permission to negotiate as a bloc from the Australian Competition and Consumer Commission (ACCC).
The commission said that its decision to not grant the banks the interim ruling was not indicative of whether the full ruling, expected in October, would be successful.
“The ACCC has considered interim authorization within a short time frame at the request of the applicants,” commission chairman Rod Sims said.
“However, given the complexity of the issues and the limited time available, the ACCC has decided not to grant interim authorization at this time,” he said. “The ACCC requires more time to consult and consider the views of industry, consumers and other interested parties.”
Apple, which operates its own Apple Pay mobile wallet, does not allow third-party electronic payment apps to be loaded onto the hugely popular smartphones. The banks are seeking to be able to negotiate jointly for access to Apple’s smartphones without themselves being accused of breaching anti-competition law.
The three banks contend that while Apple allows apps on iPhones using other commonplace technology, such as Wi-Fi and Bluetooth, restricting the technology through which mobile wallets function — known as near-field communication — constitutes anti-competitive behavior.
A spokesman for the three banks said they would continue their ongoing consultations with the commission until the final determination is made.
A spokeswoman for Apple in Sydney declined to comment.
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