Westpac and NAB back CBA, call for more scrutiny of Apple in payments

The chief executives of National Australia Bank and Westpac have backed their rival, Commonwealth Bank’s Matt Comyn, and his push to rein in Apple’s growing dominance in digital payments, calling for local regulators to take stronger action against the tech giant as global counterparts have.

Westpac’s Peter King described Apple’s digital wallet has being “pretty closed” to competition. Apple prevents bank apps making tap and go payments unless they are routed through Apple Pay and charges banks for payments using bank cards stored in iPhones.