Australia's biggest bank finally offers Apple Pay

Australia's biggest bank finally offers Apple Pay

Today’s announcement that the Commonwealth Bank is joining the Apple Pay platform is a win for customers who had grown weary of the banks’ limited payment technologies.

Apple Pay launched in Australia in November 2015 and has, to date, largely been ignored by the big banks, with the exception of ANZ.

CBA’s decision, which also includes subsidiary BankWest, will see millions more Australians access the Apple pay platform via Australia’s biggest bank from January 2019.

More than 65 banks and card providers offer Apple Pay in Australia but there are notable exceptions in the ranks, including Westpac, NAB, St George, AMP, Bank of Melbourne and Bank of Queensland.

RateCity research director Sally Tindall said the absence of Apple Pay had been a bug bear of CBA customers for years.

“CBA has removed a thorn in the side of its customers today.

“The bank has finally closed the gaping hole in their payment platforms, and caught up with their main competitor in this space, ANZ.

“Interestingly, some of the smaller banks and card issuers are also competing fiercely in this field, offering up the three main platforms to their customers: Apple Pay, Google Pay and Samsung Pay.

“By not providing Apple Pay technology, CBA was jeopardising some of the bank’s existing customers, and potential new ones.

“Hopefully this move will force Westpac and NAB to adopt Apple Pay as well and improve the options for all customers looking to ditch their wallets,” she said. 

Popular providers and what they offer

For a full list of providers, click here.

Company

Apple pay

Google pay

Samsung pay

American Express

Yes

Yes

Yes

AMP Bank

No

Yes

Yes

ANZ

Yes

Yes

Yes

Bank of Melbourne

No

Yes

No

Bendigo Bank

Yes

Yes

Yes

Bank of Queensland

No

No

Yes

BankWest

Yes*

Yes

Yes

CBA

Yes*

Yes

Yes

Citi

Yes

No

Yes

Coles

No

No

No

Heritage Bank

No

Yes

Yes

HSBC

Yes

Yes

No

ING

Yes

Yes

No

Macquarie Bank

Yes

Yes

No

ME Bank

No

No

No

NAB

No

Yes

Yes

St. George

No

Yes

No

Suncorp

Yes

Yes

Yes

Teachers Mutual Bank

Yes

Yes

Yes

Virgin Money

No

No

Yes

Westpac

No

Yes

Yes

*Available from January 2019

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The short answer is yes – as a parent you can open a bank account for your child.

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