Apple representatives stated that the three largest Bank of Australia has formed a monopoly syndicate.
Thus, began to establish their own rules for many, including Apple Pay.
Apple was not given access to NFC technology in the iPhone to banks of Australia. Banks had intended to establish its own payment methods using NFC and the iPhone. However, Apple said that the opening of the NFC is a real threat to the security of payments with the iPhone. If Apple refuse to cooperate with the banks, they will not be able to launch its payment system in any country.
Company representatives stated that they would not open NFC in the near future. So while the technology will only work with the payment system of the Corporation.
