Apple has developed a technical architecture that comprises hardware and software components and application programming interfaces (APIs) that banks can use to facilitate contactless payments with their cards and mobile banking applications. An Australian antitrust hearing has witnessed an Apple Pay versus Google Pay security tussle, as the iPhone maker defends its decision to use a proprietary system instead of an open standard.Īpple says it limits use of the NFC chip for payment purposes to Apple Pay for security reasons, but Google disagrees, stating its own use of an open banking standard for Google Pay is no less secure …Īustralia’s Parliamentary Joint Committee on Corporations and Financial Services asked Apple to explain its reason for denying banking apps direct access to the NFC chip in the iPhone.Īpple opened by suggesting this was a matter of semantics.Ĭontrary to some claims in some of the submissions, Apple provides banks with access to NFC functionality on Apple devices.
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