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    Thursday, September 23, 2021

    Australia's Commonwealth Bank Mocks Apple's 'Pro-Competition' Claim

    The head of the Commonwealth Bank of Australia has ridiculed Apple for its claim to be pro-competition in its dealings over Apple Pay in the country.

    Australia's antitrust regulator is considering requiring Apple to support rivals to Apple Pay. Now Matt Comyn, CEO of the Commonwealth Bank of Australia, has accused Apple of being anticompetitive.

    According to Reuters, Comyn told a parliamentary committee that he believes lawmakers should boost their scrutiny of Apple and other technology giants.

    "[The] claim that Apple is pro-competition, I think, is a fair statement," Comyn said, "as long as one accepts that competition is welcome as long as no one can compete with Apple."

    "It is analogous to imagine a world today where, on your Apple phone, the only person that could determine which carrier you used is Apple," he continued.

    Speaking to the same committee, Shayne Elliott of the Australia and New Zealand Banking Group, disagreed with Comyn.

    "It's kind of ironic," Elliott said, "one of Australia's biggest companies complaining about having to deal with other big competitors."

    The discussions with the parliamentary committee come as the Australian government reportedly wants to reclassify technology firms as payment systems. The intention is to then apply the latter classification's more strict regulatory controls.

    Unlike Apple, search giant Google allows banks and other third parties to access its NFC chip.

    The inquiry comes amid intensifying scrutiny from global regulators over Apple and Google's dominance in the mobile market.

    South Korea approved a bill last month that bans major app store operators, including Apple, from forcing software developers to use their payment systems.

    In Germany, lawmakers in 2019 moved to force Apple to open its mobile payments system to rivals for a reasonable fee.

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