Topic “Commonwealth Bank of Australia”

Analysis: Commonwealth Bank’s Agreement to Support Apple Pay Could Mark Turning Point for Apple’s Bank Recruitment Efforts

NFC TIMES Exclusive Insight – With its capitulation last week to Apple and agreement to participate in the tech giant’s payments service, Australia’s largest financial institution, Commonwealth Bank–which had once vowed not to support Apple Pay–shows that Apple is making headway with major banks that had once resisted supporting the NFC wallet.

Commonwealth Bank of Australia to Support Fitbit Pay in Addition to Garmin Pay and Android Pay; Continues to Shun Apple Pay

NFC TIMES Exclusive – Commonwealth Bank of Australia will support mobile payments with Fitbit Pay and the wearables maker’s forthcoming Ionic smartwatch, NFC Times has learned. That’s in addition to support for Garmin Pay and Android Pay, which the bank announced earlier this week; but the bank appears set to continue snubbing Apple Pay.

Australian Antitrust Regulators: Apple’s Lock on NFC Technology Doesn’t Hurt Competition

NFC TIMES Exclusive Insight – As expected, Australian antitrust regulators shot down a request by four major banks for permission to bargain collectively with Apple to try to gain access to the tech giant’s NFC technology in its iPhones and to jointly boycott participation in Apple Pay during the negotiations.

Aussie Banking Group: Apple Holding Issuers ‘Hostage’ with Its Restrictive NFC Policies

Feb 13 2017

NFC TIMES Exclusive – A spokesman for four major Australian banks battling Apple for access to NFC technology on its iPhones shot back at Apple's latest filing with Australian competition officials, denying that the banks are trying to avoid paying fees to Apple to participate in the payments service, the spokesman told NFC Times.

Australian Antitrust Regulators Reject Big Banks’ Request for Collective Negotiations With Apple

NFC Times Exclusive Insight – In a draft decision, the Australian Competition and Consumer Commission has denied a request from four major banks for permission to negotiate collectively with Apple and boycott participation in Apple Pay during the discussions, with regulators expressing concern that such a position “could reduce or distort competition in a number of markets.”

Apple Refuses to Open NFC Technology; Contends Australian Banks Want to Boost Own Wallets

NFC Times Exclusive Insight – Apple vowed it will not agree to open up its NFC technology or yield to other negotiating points that four large Australian banks have raised as part of their request to antitrust regulators to negotiate collectively with Apple and to boycott participation in Apple Pay while the negotiations are going on.

Australian Retail Giant Coles, Merchant Group Support Banks' Fight Against Apple

NFC Times Exclusive Insight – One of Australia's largest supermarket chain, Coles, and the Australian Retailers Association have thrown their support behind four major banks seeking permission from Australian antitrust regulators to negotiate as a bloc with Apple as they try to break what they see as the tech giant's divide-and-conquer strategy for recruiting banks for Apple Pay.

Apple Strikes Back at Australian Banks Seeking to Bargain Collectively, Branding Them a ‘Cartel’

NFC Times Exclusive Insight – Apple has responded to a request to regulators by four major Australian banks to jointly negotiate terms for their adoption of Apple Pay and to boycott participation during the negotiations with a strongly worded letter, branding the group’s proposed action worthy of a “cartel” that would “harm consumers, lead to less competition and less innovation and set a troubling precedent.”

Australian Banks Form Bloc to Counter Apple’s ‘Divide-and-Conquer Strategy

Aug 10 2016

NFC Times Exclusive Insight – In an unprecedented move, four major Australian banks, including three of the country’s big four financial institutions, have asked the

ANZ Launches with Apple Pay, as Apple Picks Off One of Big Four Australian Banks

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.

HEADLINE NEWS

In-Depth: Garmin Pay Provisioning Company Fit Pay Hopes to Build on Early Lead with Spin-Off, but Larger Competitors are Gearing Up

NFC TIMES Exclusive Insight – U.S.-based Nxt-ID disclosed late Thursday that the spin-off of its payments unit, Fit Pay, which provides bank card provisioning for Garmin Pay, would again be delayed, as it waits another couple of weeks for the closing of a nearly $17 million loan it needs to move forward with the new company.

In-Depth: Australia’s No. 2 City Shuns Open-Loop Transit Payments, Sticking with Closed-Loop Mifare for Launch of Mobile Service

Apr 10 2019

NFC TIMES Exclusive Insight – While Australia is the top market worldwide for use of contactless bank cards at retail, any hopes for those same open-loop cards and card credentials on NFC phones being used as part of a nationwide, interoperable transit payments service have been dashed for now. 

Analysis: Apple Announces Breakthrough with Apple Card, but is It Mostly Slick Marketing?

NFC TIMES Exclusive Insight – With typical style and élan, Apple introduced its new credit card, Apple Card, at a product launch event this week, one of several new services the tech giant is counting on to provide growth as its iPhone sales slip.

In-Depth: Nxt-ID Gets Much-Needed Financing, Clearing Way to Spin Off Its Payments Wearables Provisioning Unit Fit Pay

Apr 5 2019

NFC TIMES Exclusive Insight – U.S.-based Nxt-ID, whose Fit Pay unit provides payment card provisioning for Garmin Pay, has announced a closing date for a $16.5 million loan it will use for working capital and to refinance an existing loan.

Australia’s Commonwealth Bank Sees Jump in Mobile Transactions with Apple Pay, Though Still Small Share of Total Card Use

NFC TIMES Exclusive Insight – Commonwealth Bank of Australia, one of Australia’s largest banks, has said its mobile wallet transactions have increased by nearly three times in the two months since introducing Apple Pay, according to a report, though the bank declines to release any actual transaction figures, and mobile transactions still are believed to make up a very small percentage of total transactions.

In-Depth: Singapore Prepares to Launch Acceptance of Open-Loop Transit Payments Following Lengthy Trial

NFC TIMES Exclusive InsightWhen it launches its SimplyGo service April 4, Singapore’s Land Transport Authority will become the first major transit authority in Asia outside of China to launch acceptance of open-loop payments of fares.

Analysis: NFC Forum’s New Money Transfer Spec Likely Too Little, Too Late to Reverse QR Growth Trends

NFC TIMES Exclusive – As QR code-based mobile payments continue to threaten take-up of NFC technology, especially in Asia, the NFC Forum industry trade group is taking action.

Developer of Visa Transit SAM Says Technology Could Help Turn Closed-Loop Ticketing System into EMV Payments Service

Mar 14 2019

NFC TIMES Exclusive – The developer of Visa’s new transit secure-access module, or SAM, said the technology could potentially help turn even a low-end, closed-loop transit-ticketing system, such as Mifare Classic, into an EMV-enabled payments system–although that could still require transit operators to install new acceptance terminals, and they would still need to set up a back-end system to support it.

Swedish Watchmaker Latest Passive Wearables Maker with Plans to Enable Payments

NFC TIMES Exclusive Insight – Small Swedish analog watchmaker TRIWA next week plans to launch payments wearables enabled for tokenized Mastercard-branded cards issued by Swedish banking group SEB, with provisioning company Fidesmo telling NFC Times there will be more watch brands to come enabling payments.

Analysis: Apple’s Planned Credit Card with Goldman Sachs Unlikely to Significantly Boost Apple Pay

NFC TIMES Exclusive Insight – While Apple’s deal with Goldman Sachs to jointly roll out a new credit card this year integrated with Apple Pay and Apple’s devices made headlines Thursday, it was neither the first news of this partnership nor the first deal of its kind for Apple.

Sony Launches Smart Strap in Europe Supporting NFC Payments; High-End Device Costs as Much as Latest Apple Watch

Feb 16 2019

NFC TIMES Exclusive Insight – Sony has introduced its NFC-enabled smart watch strap, Wena, to the UK and Ireland, which will allow users to turn their analog watches into hybrid smartwatches and tap the straps to pay with tokenized EMV-compliant cards loaded into the devices from wallet apps.

Open-Loop Payments to Launch on London’s Airport Train Service with Calls for Further Expansion

Feb 15 2019

NFC TIMES Exclusive Insight – ­The Heathrow Express airport line serving London will begin accepting contactless open-loop payments along with closed-loop Oyster cards next week–more than six years after commuters first could pay by tapping their bank cards and NFC phones to ride on buses on the separate Transport for London system.