Follow us on Twitter
Follow us on FacebookAussies mock Apple’s “pro-competition” claim
@ 2021/09/24Anti-competitive drongos
The Commonwealth Bank of Australia accused Apple Inc on Thursday of uncompetitive behaviour over control of payments on its phones, which have grown to about a third of all in-person payments the country's largest lender processes.
Matt Comyn, chief executive at the Sydney-based bank, urged lawmakers to boost scrutiny of technology giants, saying payments through digital wallets developed by Apple and Alphabet's Google made up about 45 percent of all physical consumer payments, as distinct from other payments such as online or direct debits.
He said that the Apple claims to be pro-competition, which is “fair as long as one accepts that competition is welcome as long as no one can compete with Apple".
Comyn told a parliamentary committee the bank wants Apple to free up the Near Field Communication (NFC) chip on its phones for the use of banks' own apps, estimating the US firm captures 80 percent of all contactless transactions done through smartphones and smartwatches.
The Commonwealth Bank of Australia accused Apple Inc on Thursday of uncompetitive behaviour over control of payments on its phones, which have grown to about a third of all in-person payments the country's largest lender processes.
Matt Comyn, chief executive at the Sydney-based bank, urged lawmakers to boost scrutiny of technology giants, saying payments through digital wallets developed by Apple and Alphabet's Google made up about 45 percent of all physical consumer payments, as distinct from other payments such as online or direct debits.
He said that the Apple claims to be pro-competition, which is “fair as long as one accepts that competition is welcome as long as no one can compete with Apple".
Comyn told a parliamentary committee the bank wants Apple to free up the Near Field Communication (NFC) chip on its phones for the use of banks' own apps, estimating the US firm captures 80 percent of all contactless transactions done through smartphones and smartwatches.
