A year after American Express introduced Apple Pay to its Australian cardholders, ANZ has become the first major native bank to offer the service to its five million customers.
Using there iPhone, customers will be able to pay for goods and services at terminals where contactless payments are accepted with ANZ Visa debit/credit cards, as well as ANZ AMEX cards.
ANZ CEO Shayne Elliott said the move was a huge stride in the country’s adoption of mobile payments. He said: “I’m proud we’re the first major Australian bank to offer Apple Pay and we are confident the convenience, security and privacy will be well received by our customers.”
However, ANZ could well have ensured the rollout of Apple to Australian consumers far earlier had it not withdrawn from a collective pact between the big four banks to negotiate with the American smartphone giant.
Commonwealth Bank, Westpac and NAB were intending to ask the Australian competition watchdog for permission to enter joint negotiations, only for ANZ to decide to go it alone.
Apple has also been the subject of controversy over this issue, having refused to allow other apps access to its payments system. The likes of Westpac and NAB say it reduces choice and transparency in the market.