Apple Pay Australia Release Coming Soon

Apple Pay Australia release is a long expected one. The famous iPhone maker presented its new payment system in the U.S. a year ago. At first banks and financial institutions were skeptical about such step however the huge demand from customers made them change their mind. Today Apple Pay is a popular payment method among millions of Americans who have the AT&T iPhone, Verizon smartphones and like to check out in a click.

The rumors state that Apple Pay in Australia could be delayed. This system was delayed in the UK but everything is ok now. The problems with the new launch are not that huge. The ‘fruit’ giant is believed to negotiate with local banks over transaction fees and this is the main reason of the delay.

apple-pay-payment-service

Local sources assure that Apple is talking with 4 biggest Australian banks. Still the company can’t agree on the fees per transaction at the moment. U.S. customers pay about 15 cent one very $100 they pay through the ‘fruit’ payment system. Still Australian iPhone owners and consumers are used to pay half less for interchange fees and banks believe that 0.15% fee could be tough to digest for financial institutions here.

For the last two years the major Australian banks were offering Android users NFC based payments so the upcoming Apple Pay release here won’t be such a revolution. Still Apple is interested in new markets so it is trying to introduce its products in many new countries with Australia on the list.

Some experts think that Apple could release its payment option in Australia with a smaller bank at first. It is easier to negotiate with smaller market players since major banks are not interested in the third-company coming to their market and take their place with a new payment system.

The company is also believed to release its payment service in Canada and China.

Tags: Apple News

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