NFC Times Exclusive Insight – ANZ is the first bank in Australia to launch with Apple Pay, with Apple able to crack into the big four banks, which had been balking at signing up for the payments service mainly because of Apple’s demands for transaction fees.
There had been talk of the deal for some weeks. And the fact that Apple hired a former ANZ executive last year to head up its Apple Pay team in Australia probably helped to break the impasse in its negotiations with at least one of the big four banks. That stalemate had forced Apple to make do with only one issuer, American Express, when it launched Apple Pay in Australia last fall.
AmEx’s contactless footprint is believed to be much less than that for Visa payWave or MasterCard Contactless in Australia, which is one of the world’s premier hotspots for contactless payments. Contactless is supported at more than 70% of POS terminals in Australia and more than 60% of in-store card payments are conducted with contactless.