Digital Finance Analytics (DFA) Blog
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According to Computerworld Australia, Suncorp Bank has revealed it will soon support contactless mobile payments on Apple iOS and Google Android devices. Suncorp is one of the first banks in Australia to confirm support for Apple Pay. Westpac has indicated it will work with Apple to open up iPhone payments to its banking app, while … Continue reading “Apple Pay In Australia”
From IT Wire. Apple has refused a Samsung pay app for iOS a place in its App Store, according to a report in the South Korean publication, The Economic Times. Samsung had planned to introduce the app, Samsung Mini Pay, from January and getting it into the app store was the first step in the … Continue reading “Apple blocks Samsung pay app for iPhones”
From The Conversation. Australia’s banks have always enjoyed a lucrative income from credit card “interchange fees”, the charges that the banks levy on merchants’ sales. These fees amount to AU $2.5 billion a year which are ultimately passed on to consumers. Unwilling to share any of this revenue with Apple, all but ANZ and American … Continue reading “ANZ and Amex the winners in Australia’s banks’ fight with Apple over payment apps”
From The Conversation. After failing to come to agreement with Apple to enable mobile phone payments, six of Australia’s biggest financial institutions this week signed on with Android Pay. The service will go live in Australia in the first half of 2016. Both Android Pay and its competitor Apple Pay allow consumers to pay for … Continue reading “Google trumps Apple for Australian mobile payments, but for how long?”
Apple’s latest product announcements included some details about their Apple Pay service, which as we highlighted previously is clearly part of an innovation strategy which will potentially have a profound impact on the payments business and consumer behaviour. Whilst initially US based, Apple Pay is something which has potentially broader consequences. To day we outline … Continue reading “Apple and the Payments Revolution”
Consistent with our thesis that the big tech players are well positioned to disrupt the finance sector, Apple has moved further into financial services with the launch of a new credit card for its iPhone users, at its event today. Users will be able this facility anywhere that Apple Pay is accepted. The new credit … Continue reading “Apple launches credit card”
A joint venture backed by three of Australia’s big four banks has released its first app, with Beem It now available for iOS and Android devices according to a report in Computerworld. The Commonwealth Bank of Australia, National Australia Bank and Westpac in October revealed that they would back Beem It, which the trio … Continue reading “Next Round In The Payments Wars 2”
ANZ today announced its customers could now use Garmin Pay to make purchases on the go after the bank signed a partnership with the global wearables brand. From today, ANZ’s Australian customers can load their eligible Visa debit or credit cards through the Garmin app and start using their wearable device to make smooth and … Continue reading “ANZ launches Garmin Pay”
Bendigo Bank appears to have quietly broken ranks and launched Apple Pay despite the fact the bank was on the list of banks who were part of the failed attempt via ACCC to get Apple to allow NAB, CBA and WBC to have access to Apple’s NFC chip with their own apps. ANZ already offers … Continue reading “Bendigo Launches Apply Pay”
The Commonwealth Bank, Westpac, and National Australia Bank are working together to build the next generation of mobile payments and wallets in Australia. These banks are not offering the Apple Pay solution, unlike ANZ. They sought unsuccessfully to negotiate collectively with Apple in order to gain access to the iPhone’s near-field communications (NFC) chip which … Continue reading “The Next Round In The Payments Wars”