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Wireless

Australia forbids banks to bargain, boycott Apple Pay

Friday 31 March 2017 | 10:51 CET | News
The Australian Competition and Consumer Commission (ACCC) has denied authorization to the Commonwealth Bank of Australia, Westpac Banking Corporation, National Australia Bank, and Bendigo and Adelaide Bank (the banks) to collectively bargain with Apple and collectively boycott Apple Pay. "The ACCC is not satisfied, on balance, that the likely benefits from the proposed conduct outweigh the likely detriments. We are concerned that the proposed conduct is likely to reduce or distort competition in a number of markets", said ACCC Chairman Rod Sims.

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Categories: Mobile & Wireless
Companies: Apple / Australian Competition and Consumer Commission
Countries: Australia
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