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.
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Commonwealth Bank, Westpac, NAB and Bendigo and Adelaide Bank have suffered a minor setback in their journey to jointly negotiate with Apple to bargain down the mobile giant's payment fees -- or collectively boycott the service if they don't get the result they want -- with ACCC withholding an interim authorisation for the coalition to go ahead with the process.
Predicting the future is near impossible -- but that doesn‘t stop us all from having a red hot go. Human beings have been predicting the future since the beginning of history and the results range from the hilarious to the downright uncanny.
One thing all future predictions have in common: they‘re rooted in our current understanding of how the world works. It‘s difficult to escape that mindset. We have no idea how technology will evolve, so our ideas are connected to the technology of today.