Australian banks have been dragging their feet on Apple Pay for a while now, but the biggest of the big four, Commonwealth Bank, will finally let its customers pay with their iPhones starting next month. The move will make it the second big bank after ANZ to allow the contactless payment method.
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The payment service lets users upload their credit or debit card details to their iPhone which can then be used for contactless payments. It also makes paying for things on your phone easier by linking those details to a TouchID or FaceID. As well as ANZ, a number of smaller banks also already offer the service.
Apple Pay has been delayed since 2016 because Westpac, NAB, and CBA were collectively boycotting the service so they could negotiate as a group. Clearly, CBA has said fuck to that, justifying the move with its strong customer demand for the product. I’d imagine those not already offering Apple Pay will move to include it pretty soon in light of the move.
“One of the things we heard repeatedly from our customers is that they want Apple Pay and we’re delighted to be making it available in January 2019,” CBA group executive for retail services, Angus Sullivan, said.
Banks already using the payment service claim it’s more secure than standard plastic card payments, as the sensitive card information isn’t stored on the phone itself.
CBA iPhone users will likely be stoked on the news, but goddamn, it’s about bloody time. Hopefully, the remainder of banks not yet offering Apple Pay will pick up the pace and introduce it already.
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