Updated December 01, 2018 07:54:23With the launch of Apple Pay, Australia’s major banks will be able, for the first time, to accept digital payments, with the Australian government announcing a plan to allow banks to use the technology on phones and in shops.
“In September 2018, we introduced the first iPhone with Apple Pay in Australia.
This year, we launched Apple Pay on the Apple Watch, the first wearable Apple device to be accepted by banks in Australia,” Australian Bankers Association chief executive officer Ian McCafferty said.”
Apple Pay has the potential to transform the way we transact in our everyday lives.
It is now easier for customers to pay with Apple products and services, with a tap on their wrist.”
By allowing customers to access Apple Pay at their mobile phones and stores, we are creating a new world for our citizens, businesses and communities.””
As the first country in the world to enable the adoption of Apple’s Pay technology, it is essential that all Australians use the new technology as quickly as possible to avoid the risks associated with non-compliance with the legislation,” he said.’
Apple Pay is a revolutionary product that will transform our daily lives’The Australian Banker said the move was about more than just convenience, but also about consumer protection.”
The Australian Government has a responsibility to ensure consumers are protected by the laws they use to access financial services, so it is important that we make the best possible use of the technology to support the rollout of Apple Watch and the Apple Pay payment system in the coming months,” he told ABC News.”
This is about protecting the privacy of all Australians, and ensuring that we do not breach consumer privacy by accepting Apple Pay as payment in the future.
“While banks can now accept Apple Pay for a number of products, it was only on the iPhone 5S that banks could accept it for payments.”
Apple Pay uses NFC technology, which can be activated by swiping your finger along the screen or touching a chip. “
We hope this innovation will enable banks to begin accepting Apple Cash in the Australian banking system, with immediate effect.”
Apple Pay uses NFC technology, which can be activated by swiping your finger along the screen or touching a chip.
It uses an optical reader that can recognise the card’s fingerprint, and unlocks the phone if it is unlocked.
When a card is swiped with the Apple Touch ID fingerprint sensor, the phone transmits a token to the bank.
Apple Pay also uses a chip that stores a user’s information, and can be scanned with the phone’s camera.
This allows the bank to track and identify transactions, as well as store the digital signature of a user, and send the token to a third party.
Apple is also using a system called “Smart Lock” to lock a device, or “secure a device”, when the chip is inserted into the phone.
The Australian Financial Review has reported that banks are working to add the functionality to other banks, with one leading bank already offering the feature.
Apple has not announced a timetable for when the Apple Store will be open to the public, but has said it is working towards “full compliance” with the laws.
It is also hoped that Apple Pay will be added to other major banks by the end of the year.