Concerns Found About Apple Nfc Restrictions But Not Enough For New Regulation
In Australia, banks must pay fees to Apple to use Apple Pay. Other competitors in the mobile payment and digital wallets space, such as Google, do not charge a fee for the use of its Google Pay payments platform. “The committee notes the imbalance in bargaining power between payment platform providers and other participants in the payments ecosystem. Nevertheless, the observation that the market power of digital wallet platforms, such as Apple Pay and Google Pay, is causing banks to be price-takers may not automatically trigger the need for regulation,” the committee said....