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.”
Unless the commission reverses itself in its final decision scheduled for March–an unlikely prospect–it would strike a blow against banks and other service providers seeking to crack open Apple’s lock on NFC technology in its iPhones and other devices.
“This is currently a finely balanced decision,” the commission, known as the ACCC, wrote, in a statement issued today, attributed to commission chairman Rod Sims. “The ACCC is not currently satisfied that the likely benefits from the proposed conduct outweigh the likely detriments.”
