Australia's three biggest banks, including the number one lender
National Australia Bank (NAB), last month lodged a joint
application seeking permission to negotiate as a bloc from the
Australian Competition and Consumer Commission (ACCC).
The ACCC said that its decision not to grant the banks the
interim ruling was not indicative of whether the full ruling,
expected in October, would be successful or not.
"The ACCC has considered interim authorization within a short
time frame at the request of the applicants," ACCC Chairman Rod
Sims said.
"However, given the complexity of the issues and the limited
time available, the ACCC has decided not to grant interim
authorization at this time. The ACCC requires more time to
consult and consider the views of industry, consumers, and other
interested parties."
Apple, which operates its own Apple Pay mobile wallet, does not
allow third-party electronic payment apps to be loaded onto to
the hugely popular smartphones. The banks are seeking to be able
to negotiate jointly for access to Apple's phones without
themselves being accused of violating anti-competition law.
The three Australian banks contend that while Apple allows apps
on iPhones using other commonplace technology, such as Wi-Fi and
Bluetooth, restricting the technology through which mobile
wallets function - known as Near Field Technology - constitutes
anti-competitive behavior.
Australia and New Zealand Bank, which signed a deal to use the
Apple Pay system in April, is the only one of the country's 'Big
Four' banks not to join the action. The country's second-biggest
lender, Commonwealth Bank of Australia, and number three,
Westpac Banking Corp, have joined with NAB.
A spokesman for the banks said they would continue their ongoing
consultations with the ACCC until the final determination is
made.
A spokeswoman for Apple in Sydney declined to comment on the
announcement.
(Reporting by Matt Siegel; Editing by Michael Perry)
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