Apple Pay chief warns Australian banks to get behind mobile payments or risk losing customersApple Pay is big in Australia, even if some banks aren't willing to adopt it.
Apple Pay's chief, Jennifer Bailey, is sending a stern warning to five Australian banks unwilling to negotiate with the company over the nascent payment service, saying that customers will begin looking for greener, more mobile payment-friendly pastures.
In an interview with Australia's Financial Review newspaper, Bailey said that the banks don't understand the value proposition of Apple Pay, and that by ostensibly paying lip service to their customers by demanding access to the iPhone's NFC chip, they are missing an important opportunity.
The banks are fighting Apple because they are concerned about the tech giant's ability to capture the market for digital wallets – cards stored on smartphones – which is expected to grow strongly.
Bailey told AFR that after applying to Australia's regulator to enter into a collective boycott of Apple Pay, the companies have been unwilling to negotiate ...
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Apple Pay chief warns Australian banks to get behind mobile payments or risk losing customers
