Apple is weighing a potential challenge to the Reserve Bank of Australia (RBA) as the central bank moves to crack down on the $1.2 billion Australians pay annually in credit and debit card surcharges.

The RBA’s proposed reforms aim to curb excessive surcharging, with expectations that Apple Pay – despite Apple’s long-standing position that it operates outside the traditional payments network – will fall within the new regulatory scope by mid-2026.

Apple charges banks significant fees to allow their cards to be used in its digital wallet. These costs, while not charged directly to consumers, are often passed down through the payments chain.

The RBA argues the burden of Apple Pay-related fees should fall on banks or merchants, not end-users.

However, critics note this does little to address Apple’s control over access and pricing – issues that have been central to regulatory concerns globally.

Apple, which holds a dominant 60% market share among Australian smartphone users, may resist moves to open up its tightly controlled payments infrastructure.

Although it recently allowed limited third-party access to its NFC chip under EU pressure, Apple continues to strictly manage which developers and banks gain access and charges a “nominal fee” for use.

With proposed legislation still pending in parliament to bring digital wallets like Apple Pay under the RBA’s formal oversight, the outcome could reshape the balance of power in Australia’s digital payments space.