While Bendigo and Adelaide Bank, Commonwealth Bank of Australia, National Australia Bank, and Westpac have been pushing for the Australian Competition and Consumer Commission (ACCC) to allow the banks to negotiate as a group for access to Apple Pay, and now just the Near Field Communication (NFC) function on iPhones, Macquarie Bank and ING Direct customers will now have access to Apple Pay.
Bendigo and Adelaide Bank, the Commonwealth Bank of Australia, National Australia Bank and Westpac have lodged an application with the Australian Competition and Consumer Commission (ACCC) for the green light to have joint negotiations with providers of third-party mobile wallets, such as Apple Pay, Samsung Pay and Android Pay.
Here is an updated list of all of the financial institutions now signed up to the payment service:
- American Express
- ANZ (American Express credit cards, MasterCard credit cards, Visa credit and debit cards)
- Australian Unity
- Bank Australia
- Bank of Sydney
- Beyond Bank Australia
- Big Sky Building Society Ltd.
- CAPE Credit Union Ltd.
- Catalyst Money
- Central West Credit Union Ltd.
- Community Alliance Credit Union Ltd.
- Community First Credit Union Ltd.
- Credit Union SA Ltd.
- Customs Bank
- Defence Bank
- First Option Credit Union
- Goldfields Money Ltd.
- Goulburn Murray Credit Union
- Holiday Coast Credit Union Ltd.
- Horizon Credit Union
- ING Direct
- Intech Credit Union Ltd.
- Laboratories Credit Union Ltd.
- Lombard Finance
- Macquarie Bank
- Maritime Mining & Power Credit Union Ltd
- MyState Bank Ltd.
- Nexus Mutual
- Northern Beaches Credit Union
- Northern Inland Credit Union
- Once Credit
- P&N Bank
- People's Choice Credit Union
- Police Bank
- QT Mutual Bank
- Select Encompass Credit Union Ltd.
- South West Slopes Credit Union
- Sydney Credit Union Ltd.
- Teachers Mutual Bank
- The Mac
- The Rock
- Warwick Credit Union Ltd.
- WAW Credit Union
- Woolworths Employees' Credit Union
- Wyong Shire Credit Union
For over a year, Australia's largest banks have been engaged in a quiet war with Apple. Their goal is to force the world's largest technology company to open access to the iPhone's NFC chip and allow collective bargaining over Apple Pay. Apple is fighting back, of course, and the next few weeks and months will determine the future of mobile payments in Australia.
When you use a credit or debit card with Apple Pay, the actual card numbers aren't stored on the device or on Apple servers, but a unique Device Account Number is assigned, encrypted and securely stored in the "Secure Element" on your device. Each transaction is then authorised with a one-time unique dynamic security code.
Apple Pay works in stores with iPhone SE, iPhone 6 and later, and Apple Watch. For online shopping (where you use Touch ID) Apple Pay works with iPhone 6 and later, iPhone SE, iPad Pro, iPad Air 2, and iPad mini 3 and later. You can also use Apple Pay in Safari on any Mac introduced in or after 2012 running macOS Sierra and confirm the payment with iPhone 6 or later or Apple Watch, or with Touch ID on the new MacBook Pro.