Apple Pay dispute may mean less opportunity to pay with your mobile

As people increasingly reach for their phone to pay for goods in Australia, existing players in the contactless payment industry are trying to seek competitive advantage. Four of Australia's leading banks are trying to secure collective bargaining rights for technology that grants access to Apple Pay. This service is currently is only available to customers with American Express proprietary cards and ANZ American Express companion cards and ANZ Visa cardholders. The Reserve Bank of Australia's (RBA) Payments System Board noted that innovations in mobile wallets can boost consumer choice and convenience. Cardholders may be able to consolidate a range of payment cards into a single app on their mobile device. Australia is one of the leading countries in the take-up of contactless payment transactions. If Apple is blocking banks from offering this service to their customers, it should be questioned.