Australia's three biggest banks have joined forces to seek permission to negotiate with technology giant Apple to include their own payments app on its smartphones. The banks, including the country’s top lender National Australia Bank (NAB), said they have filed a joint application with anti-trust regulators in this regard, Reuters reported. Currently, Apple does not permit installation of third-party payments apps on its iPhones, as it operates its proprietary Apple Pay mobile wallet. In November 2015, Apple Pay was launched in Australia with a through a limited partnership with American Express. But many local banks opposed it as they were not able to access Apple's near field communication (NFC) technology. The three banks have declined to ink deals with Apple to use its mobile app. The banks want iPhone users to be allowed to use the electronic wallet systems, which are developed and financed by them. Commonwealth Bank of Australia, and Westpac Banking, partnered with NAB to file the application with the Australian Competition and Consumer Commission (ACCC). Novantas, a banking industry group, senior advisor Lance Blockley was quoted by the Sydney Morning Herald as saying: "This is about providing Australians with real choice and better outcomes. "If successful, the application would have tremendous benefits for the entire Australian mobile payments landscape including for public transport fares, airlines, ticketing, store loyalty and rewards programs and many more applications yet to be developed." Australia and New Zealand Bank (ANZ), one of the Australia’s top four banks, has already signed up a deal to use Apple Pay. Users of Samsung smartphones and other Android handsets are allowed by Samsung and Google to install third-party mobile payment apps. Image: Paying for coffee with Square's apple pay reader. Photo courtesy of Mybloodtypeiscoffee/Wikipedia.
Australia’s three biggest banks have filed a joint application for Apple to include their own payment app in its appstore. Apple however does not currently permit third party payment apps within its interface with the three banks having already refused to use Apple Pay, after its release last November. A spokesman for the banks has said that if approved, their joint application could significantly benefit the Australian mobile payment landscape in fields including airlines, store loyalty and public transport fares.