Apple’s NFC restriction hits mobile payments innovation, Australian banks claim

The group of Australian banks taking on Apple over access to the NFC technology within iPhone handsets says the restriction is not only preventing the introduction of mobile wallet services across multiple platforms but also proving detrimental to continued investment into mobile payment apps. In a 27-page submission to the Australian Competition and Consumer Commission (ACCC) this week, the four banks insist Apple’s restriction is fragmenting the customer experience and, without access, there “simply will not be the same incentives and ability to innovative” on either the iPhone platform or other alternatives.