Australia’s ANZ Bank Announces Apple Pay Support

ANZ has become the first Australian bank to offer Apple Pay support. The official announcement validates recent speculation, some of which revolved around the fact that a major ANZ executive had left the bank last autumn to work for Apple Pay.

Australia's ANZ Bank Announces Apple Pay SupportApple got a foot in the door last year when it launched Apple Pay in Australia via a partnership with American Express, which has the advantage of being able to issue payment cards directly to customers. At the time, Australia’s major banks appeared recalcitrant in their resistance to Apple Pay, but some have lately offered support to mPayment rival Android Pay, suggesting a warming attitude toward mPayments in general.

Now, with ANZ’s support, Apple has a little more leverage in making its case with Australia’s other major banks. That’s especially true given that the partnership could be portrayed as a win-win: Reuters reports that ANZ has lately been lagging behind the other major banks in its performance; but after the deal’s announcement today, its shares increased 0.5 percent.

Source: Reuters