STOP PRESS
IBS Journal May 2016
55
Apple Pay goes mainstream Down Under ANZ has become the first major Australian bank to offer Apple Pay to its customers.
only available in the country through a partnership with American Express, limiting it to that company’s cardholders.
T
Apple has struggled to negotiate fees with banks and also faces competition from the New Payments Platform, backed by the Reserve Bank of Australia. The tech giant remains in talks with Australia’s other three big banks: Commonwealth Bank (CBA), Westpac and National Australia Bank (NAB).
he mobile payments service was previously
ANZ Chief Executive Officer Shayne Elliott says: “The introduction of Apple Pay is a significant milestone in our strategy to use digital technology to provide our customers with a superior experience and will be a watershed moment in the adoption of mobile payments in Australia. 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. With the high adoption rates of contactless payments in Australia, our customers will be world leaders in their ability to use their mobiles to make the vast bulk of essential payments.”
Scott Thompson IN BRIEF
Payments platform outfit Zooz has closed a $24 million funding round, led by
Target Global Ventures. The Israel-based startup, which helps merchants connect with multiple payment providers, will use the cash to develop new products, open new markets and increase its presence in existing ones.
Scott Thompson
www.ibsintelligence.com
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