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4 mlm Aussies to be able to use Apple Pay soon

Xinhua, November 9, 2016 Adjust font size:

A new agreement that allows 31 financial bodies to start using Apple Pay soon is set to benefit about four million Australians, local media reported on Wednesday.

Sydney-based financial institution Cuscal Limited said customers with debit and credit accounts held with the 31 credit unions and banks will soon be able to use Apple Pay to make retail payments from their iPhones.

An Apple spokesperson told Xinhua that the service for all 31 merchants would be made available "soon" without elaborating much on the time frame.

News Corp has reported that Apple Pay's vice president Jennifer Bailey was elated to note that the tech giants payment platform will be available for more Australians to enjoy.

"We are thrilled that customers from more than 30 of Cuscal's banks and credit unions, including People's Choice Credit Union, Credit Union Australia and Teacher's Mutual Bank, will be able to enjoy the convenience, security and privacy of Apple Pay," Bailey said.

"Today more than 3,500 banks across 12 countries already support Apple Pay and we think Cuscal's customers will really love using Apple Pay for everyday purchases in stores, apps and on the web," she said.

Apple Pay are still in talks with three other major Australian bank's who are insisting on operating their own electronic payment applications on the iPhone.

The National Australia Bank, Commonwealth Bank of Australia, Westpac Banking Corp, Bendigo and Adelaide Bank have filed an application to the Australian Consumer and Competition Commission (ACCC) in August seeking permission to collectively negotiate with Apple for their own electronic payments applications to be featured on the iPhone.

The outcome of that application is still pending.

So far, none of these banks have been offered a spot under the Cuscal agreement as well.

At present, Australians can access Apple Pay through American Express and ANZ. Enditem