National Australia Bank (NAB) has made Apple Pay available to personal and business customers with eligible NAB Visa debit or credit cards this morning.
In 2016, NAB – along with Commonwealth Bank of Australia (CBA), Westpac and Bendigo and Adelaide Bank – sought Australian Competition and Consumer Commission (ACCC) authorisation to form a cartel to engage in joint negotiations with third-party digital wallet providers. The would-be-cartel made clear that Apple was its key target.
The banks ultimately lost their fight when the ACCC formally knocked back their desire to form a cartel in March 2017.
ANZ, which was not part of the cartel bid has offered Apple Pay since 2016. CBA capitulated in January this year, and in May extended its availability from consumer to business card holders.
Customers welcomed NAB’s announcement on Twitter today, but questioned what had taken them so long.
“We’ve been hearing from customers that they want Apple Pay and it’s great to be able to launch this service today,” said NAB chief customer experience officer Rachel Slade.
“We’re continuing to listen to customer feedback and take action to become the bank our customers want. As part of our transformation we are investing significantly in our technology and digital services to support our customers to manage their money how they choose,” she added.
The bank will be alerting all eligible customers to the service from today, the bank said.
The only major Australian bank not offering Apple Pay is Westpac, to the exasperation of customers on social media.
The bank responded to the scorn to say that it apologised for “any frustration this has caused”.
“We’re reviewing our position in order to best serve our customers and remain open to partnering with Apple in the future,” the bank said.
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