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Credit Unions Open To Apple Pay

Credit Unions Open To Apple Pay

Three of Australia’s big four banks may have blacklisted the Apple Pay contactless payments system – which allows customers to pay for goods with a wave of their iPhone or Apple Watch – but up to 4 million Australians who are members of credit unions may soon be able to do so.

Customers with accounts at 31 credit unions and smaller banks will be able to use Apple Pay to make retail payments from their iPhone, according to payments provider Cuscal.

The list includes Credit Union Australia, Bank of Sydney, Horizon Credit Union, Police Bank, Teachers Mutual Bank, and Woolworths Employees Credit Union.

The ANZ has been the only major Australian bank to accept Apple Pay so far, with Westpac, NAB and the Commonwealth Bank holding off and seeking approval from the Australian Competition and Consumer Commission to negotiate collectively – effectively as a cartel – with Apple. But Apple has said that it believes the real reason for their application is to delay Apple Pay’s full arrival in the market, in order to direct more customers to their own digital wallets.

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