Westpac shifts its focus from Apple Pay after ACCC ruling to Samsung Pay

11 April 2017

estpacAfter sad defeat in the battle over obtaining access to the NFC technology of iPhone devices brought by unconsoling ruling of the Australian Competition and Consumer Commission that sided with Apple Pay, one of the four applicants in the case Westpac changed its endeavors and gave up fishing in the air for getting one small fish instead of an empty dish with Samsung Pay.

The banking corporation is teaming up with Samsung to allow consumers using Samsung smartphones and having Westpac Mastercard and Visa credit and debit cards to make payments for their purchases on the basis of NFC technology across multiple retail locations in Australia.

Spokesperson for Westpac underlined that the company is very enthusiastic about being the first Australian-owned bank to offer the new functionality enabling thousands of consumers to make their choice and pay either with Westpac Tap and Pay, Android Pay or Samsung Pay at contactless point-of-sale terminals.

Recently, the ACCC closed the long-running dispute of the big four financial tycoons (Westpac, CBA, NAB, and Bendigo and Adelaide Bank) and Apple by putting forward its ruling in support of Apple’s position. Initially, the banks wanted to collectively bargain with Apple and boycott Apple Pay, and later changed their line and insisted on obtaining access to iPhone’s NFC technology for being able to offer their alternative mobile payment services based on contactless transactions.

Blockchain techs
Mastercard may launch a payment system for fast cryptocurrency transactions
Banking techs
Korea digitizes mortgage and loan documents on a blockchain platform
Writing a White Paper for an ICO: expert recommendations
Show more posts...