Commonwealth Bank wants the Reserve Bank of Australia to deploy its new powers, granted by Canberra last year, to pursue Apple’s growing dominance in the market for digital wallets, as the European Union regulator has done.
CBA has told an influential parliamentary committee that the RBA should use amendments to the Payment Systems (Regulation) Act, passed in federal parliament last year, to force Apple to open up its mobile payments system on more attractive terms to other digital wallets, including banking apps.
