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Australian banks seek okay to launch boycott of Apple Pay over competition concerns

( October 19, 2016, 04:33 GMT | Insight) -- Australia's four biggest banks including Bank of Australia, Westpac Banking Corporation, National Australia Bank and Bendigo and Adelaide Bank are seeking permission from the Australian Competition and Consumer Commission to launch an official boycott of Apple over issues related to alleged unfair practices, Arnet reports.Australia's four biggest banks including Bank of Australia, Westpac Banking Corporation, National Australia Bank and Bendigo and Adelaide Bank are seeking permission from the Australian Competition and Consumer Commission to launch an official boycott of Apple over issues related to alleged unfair practices, Arnet reports. In a joint submission to the commission, the banks argue that Apple is acting in an "intransigent, closed and controlling" manner regarding Apple Pay. The four financial institutions also accuse Apple of seeking to benefit from the banks' existing investment in contactless infrastructure in the country. The antitrust agency says it will make its final ruling on the dispute with Apple this month....

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