CBA has announced it would be happy to pay Apple to use its payments system if they are granted access to the iPhone’s near field communication (NFC) controller. The announcement comes less than a week after the Australian Competition and Consumer Commission denied CBA and other major banks request for the ability to negotiate together against Apple. Head of Retail Banking at CBA, Matt Comyn, explained access to the NFC is most important to the bank because it will provide allow customers to have a choice of mobile wallets. Coymn explained, “It is falsely attributed to it being about the interchange [fee]. It’s not. For us, it is about, and our customers tell us, they see the bank app and the wallet as the primary place that they would like to make payments ... We think it is important that customers have choice. There should be the ability to have multiple wallets.”
RFi Group data shows that CBA MFI customers are more likely than average to be aware of mobile payments and use mobile payments on a regular basis.
RFi Group data shows that CBA MFI customers are more likely than average to be aware of mobile payments and use mobile payments on a regular basis. If CBA were able to access the NFC then it may encourage more regular use of mobile payments more customers.
Source: RFi Group