After the three largest Australian banks filed an application to make their own mobile payment apps available on the iPhone, Apple has countered with claims that opening up its NFC technology could damage the device’s security, the Australian Financial Times reports. The company told Australia’s Competition and Consumer Commission that Apple Pay “upholds very high security standards for our customers when they use Apple devices to make payments.
Providing simple access to the NFC antenna by banking applications would fundamentally diminish the high level of security Apple aims to have on our devices.”
The banks have chafed over the fees Apple charges for Apple Pay transactions, refusing to link their cards to the system and drawing complaints of anti-competitive behavior. In their complaint to the ACCC, the banks requested approval to collectively bargain with Apple to install their own privately financed and developed electronic payment apps on iPhones.
In its reply, Apple voiced concerns that “allowing the banks to form a cartel to collectively dictate terms to new business models and services would set a troubling precedent and delay the introduction of new, potentially disruptive technologies.” [via 9to5Mac]
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