Apple's Jennifer Bailey Says Customers Are Willing to Switch Banks to Use Apple Pay

Apple Pay vice president Jennifer Bailey believes that Apple Pay is valuable enough that "customers will say they are happy to switch banks to use it."

apple pay anz
Bailey claims Australians are using Apple Pay more frequently than customers in any other countries, which she said "is in large part due to Australia being a recognized global leader in contactless payments and usage."

That's good news for ING Direct and Macquarie, which have announced they will enable support for Apple Pay in Australia by the end of February. Both banks are listed as "coming soon" on the Apple Pay website in Australia, alongside ANZ, Bank Australia, Beyond Bank, P&N Bank, and over 30 other smaller banks.

ing direct macquarie apple pay
Bailey's comments, made in an interview with the Australian Financial Review, appear to be directed towards three of Australia's "Big Four" banks that refuse to accept Apple Pay, namely Commonwealth Bank, NAB, and Westpac. The fourth bank, ANZ, has supported Apple Pay since April 2016.

The trio of banks, along with Bendigo and Adelaide Bank, instead turned to the Australian Competition and Consumer Commission (ACCC) in an attempt to gain access to the NFC hardware in the iPhone. The banks want access to the NFC chip so they can offer their own existing bank-run mobile payments services.

"While initially, in many markets, there have been banks that have initially been wary about working with a company as large as Apple, once they begin to work with us and understand the Apple Pay platform, they see the benefits of it," said Bailey. "That hasn't fully happened with the ACCC applicants, because the conversation is happening through the ACCC process, compared to what normally happens, which is we have the conversation bilaterally."

The ACCC denied rejected the application from the banks in November as part of a draft ruling, and its final decision will be announced in March.

Last year, Apple told the ACCC that "allowing the banks to form a cartel to collectively dictate terms to new business models and services would set a troubling precedent and delay the introduction of new, potentially disruptive technologies."

Apple upholds very high security standards for our customers when they use Apple devices to make payments. Providing simple access to the NFC antenna by banking applications would fundamentally diminish the high level of security Apple aims to have on our devices.

Unfortunately, and based on their limited understanding of the offering, the [banks] perceive Apple Pay as a competitive threat. These banks want to maintain complete control over their customers. The present application is only the latest tactic employed by these competing banks to blunt Apple's entry into the Australian market.

Earlier this week, the banks said they are fighting to provide "real choice" and "real competition" for consumers.

The application has never been about preventing Apple Pay from coming to Australia or reducing competition between wallets. It has always been about providing real choice and real competition for consumers and facilitating innovation and investment in the digital wallet functionality available to Australians. Apple's statement that the application is fundamentally about an objection to the fees that Apple wish to be given rather than NFC access, is incorrect and unsupported.

Despite the ACCC negotiations and apparent ill-will, Bailey said Apple still wants "to work with the banks in Australia to bring Apple Pay to our customers, in a way that advantages many of the things they are offering through their banking apps, which we have done already in other markets."

"That's why the announcement about these new banks is important and we are continually on that path – because as more banks get on the platform, I think there is more of an industry understanding about how Apple Pay really compliments their services," she added, referring to ING Direct and Macquarie.

Commonwealth Bank, NAB, Westpac, and Bendigo and Adelaide Bank reportedly serve two-thirds of Australian cardholders.

Related Roundup: Apple Pay

Popular Stories

maxresdefault

Five Features Coming to AirPods Pro 3

Friday June 27, 2025 10:52 am PDT by
Apple hasn't updated the AirPods Pro since 2022, and the earbuds are due for a refresh. We're counting on a new model this year, and we've seen several hints of new AirPods tucked away in Apple's code. Rumors suggest that Apple has some exciting new features planned that will make it worthwhile to upgrade to the latest model. Subscribe to the MacRumors YouTube channel for more videos. Heal...
iPhone Car Key WWDC 2025

Apple Announces 13 Automakers Planning to Offer iPhone Car Keys

Friday June 27, 2025 11:42 am PDT by
In 2020, Apple added a digital car key feature to its Wallet app, allowing users to lock, unlock, and start a compatible vehicle with an iPhone or Apple Watch. The feature is currently offered by select automakers, including Audi, BMW, Hyundai, Kia, Genesis, Mercedes-Benz, Volvo, and a handful of others, and it is set to expand further. During its WWDC 2025 keynote, Apple said that 13...
anker power bank recall

PSA: Anker Recalls Multiple Power Banks Due to Fire Risk

Friday June 27, 2025 4:16 pm PDT by
Popular accessory maker Anker this month launched two separate recalls for its power banks, some of which may be a fire risk. The first recall affects Anker PowerCore 10000 Power Banks sold between June 1, 2016 and December 31, 2022 in the United States. Anker says that these power banks have a "potential issue" with the battery inside, which can lead to overheating, melting of plastic...
Chase Sapphire Reserve Apple Perk Feature

Chase Sapphire Reserve Card Introduces New Perk for Apple Customers

Wednesday June 25, 2025 2:08 pm PDT by
Chase this week announced a series of new perks for its premium Sapphire Reserve credit card, and one of them is for a pair of Apple services. Specifically, the credit card now offers complimentary annual subscriptions to Apple TV+ and Apple Music, a value of up to $250 per year. If you are already paying for Apple TV+ and/or Apple Music directly through Apple, those subscriptions will...
iPhone 17 Pro Blue Feature Tighter Crop

iPhone 17 Pro Launching in a Few Months With These 12 New Features

Thursday June 26, 2025 2:00 am PDT by
Apple's next-generation iPhone 17 Pro and iPhone 17 Pro Max are around three months away, and there are plenty of rumors about the devices. Apple is expected to launch the iPhone 17, iPhone 17 Air, iPhone 17 Pro, and iPhone 17 Pro Max in September this year. Below, we recap key changes rumored for the iPhone 17 Pro models:Aluminum frame: iPhone 17 Pro models are rumored to have an...
A18 Pro Chip

New MacBook With A18 Pro Chip Spotted in Apple Code

Monday June 30, 2025 8:05 am PDT by
Apple is developing a MacBook with the A18 Pro chip, according to findings in backend code uncovered by MacRumors. Earlier today, Apple analyst Ming-Chi Kuo reported that Apple is planning to launch a low-cost MacBook powered by an iPhone chip. The machine is expected to feature a 13-inch display, the A18 Pro chip, and color options that include silver, blue, pink, and yellow. MacRumors...
macbook air spacegray purple

Apple Planning to Launch Low-Cost MacBook Powered By iPhone Chip

Monday June 30, 2025 3:20 am PDT by
Apple is planning to launch a low-cost MacBook powered by an iPhone chip, according to Apple analyst Ming-Chi Kuo. In an article published on X, Kuo explained that the device will feature a 13-inch display and the A18 Pro chip, making it the first Mac powered by an iPhone chip. The A18 Pro chip debuted in the iPhone 16 Pro last year. To date, all Apple silicon Macs have contained M-series...
CarPlay Ultra Climate Controls

Here's Which Vehicle Brands Will and Won't Offer Apple's CarPlay Ultra

Friday June 27, 2025 9:52 am PDT by
Apple last month announced the launch of CarPlay Ultra, the long-awaited next-generation version of its CarPlay software system for vehicles. There was news this week about which automakers will and won't offer CarPlay Ultra, and we have provided an updated list below. CarPlay Ultra is currently limited to newer Aston Martin vehicles in the U.S. and Canada. Fortunately, if you cannot...
apple watch ultra 2 new black

Apple Watch Ultra 3 Finally Coming After Two-Year Hiatus

Tuesday June 24, 2025 3:40 am PDT by
Apple will finally deliver the Apple Watch Ultra 3 sometime this year, according to analyst Jeff Pu of GF Securities Hong Kong (via @jukanlosreve). The analyst expects both the Apple Watch Series 11 and Apple Watch Ultra 3 to arrive this year (likely alongside the new iPhone 17 lineup, if previous launches are anything to go by), according to his latest product roadmap shared with...

Top Rated Comments

santaliqueur Avatar
109 months ago
I like Apple Pay a lot. If my bank stopped supporting it, I'd probably switch to one that does.
Score: 18 Votes (Like | Disagree)
fel10 Avatar
109 months ago
Apple is really that arrogant.
Score: 17 Votes (Like | Disagree)
OneZweiThree Avatar
109 months ago
Well, the first bank, that offers Apple Pay in Germany, will get my money. So I cant say, they are wrong.
Score: 15 Votes (Like | Disagree)
DotCom2 Avatar
109 months ago
It's NOT the banks...It's the MERCHANTS! Not enough merchants that I visit anyway, support it.
Score: 12 Votes (Like | Disagree)
spook Avatar
109 months ago
Apple is really that arrogant.
Even if it's true?
Score: 11 Votes (Like | Disagree)
EvilEvil Avatar
109 months ago
I set up Apple Pay since inception but have yet to use it at any store!
Score: 9 Votes (Like | Disagree)