Talks are ongoing between Australia 's financial institutions and its mobile banking and payments companies , to establish a new security protocol . The new protocol aims to address the levels of security and privacy requirements for customer - sensitive information for banks and payments companies such as Apple Pay , Android payments , and Samsung Pay . The proposed agreement would require Apple , Google , and Samsung signing a voluntary agreement to maintain certain levels of security , which the regulator would then have the power to enforce .
Talks are ongoing between Australia's financial institutions and its mobile banking and payments companies, to establish a new security protocol. The new protocol aims to address the levels of security and privacy requirements for customer-sensitive information for banks and payment companies such as Apple Pay, Android Pay, and Samsung Pay. The proposed agreement would involve Apple, Google, and Samsung signing a voluntary code to maintain certain levels of security, which the regulator would then have the power to enforce.