16 July 2018
Visit www.avoka.com

Oz banks team up for mobile P2P payments service

31 October 2017  |  5862 views  |  1 Sydney

In the wake of their bitter battle with Apple, three of Australia's big banks have joined forces on a person-to-person mobile payments app.

Commonwealth Bank, National Bank of Australia and Westpac will launch the free Beem app for Android and iOS devices by the end of the year, according to the Sydney Morning Herald.

It will be open to customers of all banks, who can send money without entering the recipients' account details.

Although Beem will initially focus on instant P2P payments, it could eventually expand to point-of-sale transactions, bringing it into competition with the likes of Android Pay and Apple Pay.

The three banks are currently refusing to offer Apple Pay to their customers after being denied authorisation to collectively bargain with the US the giant.

ANZ, the only big Oz bank to offer Apple Pay, is not currently involved in Beem but may sign up in the future.

Comments: (1)

John Candido
John Candido - Black Cabs - Melbourne 01 November, 2017, 20:06

When is the former consortium of five major banks in Australia going to stop squabbling with Apple to bring in Apple Pay to the rest of Australia? This squabble is childish and as usual all about the money. I am so heartily sick of it all!

Be the first to give this comment the thumbs up 0 thumb ups!
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

CBA lines up POS integration with NZ's Vend

CBA lines up POS integration with NZ's Vend

18 October 2017  |  4362 views  |  0 comments
Cards overtake cash for consumer payments in Australia

Cards overtake cash for consumer payments in Australia

27 July 2017  |  16236 views  |  2 comments | 19 tweets | 28 linkedin
Australian banks lose bitter battle with Apple Pay

Australian banks lose bitter battle with Apple Pay

31 March 2017  |  12443 views  |  0 comments | 31 tweets | 37 linkedin
Australian banks fight back over Apple Pay 'fantasy' claims

Australian banks fight back over Apple Pay 'fantasy' claims

13 February 2017  |  8795 views  |  3 comments | 8 tweets | 12 linkedin
Apple Pay's Australian travails eased by Cuscal deal

Apple Pay's Australian travails eased by Cuscal deal

10 November 2016  |  5017 views  |  1 comments | 3 tweets | 6 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.aciworldwide.comVisit https://secure.vasco.comVisit info.nice.com

Who is commenting?

Suresh K Suresh K Commented on: I am the password
A Finextra member Finextra Member Commented on: Mastercard enlists Wor...
A Finextra member Finextra Member Commented on: Mastercard enlists Wor...

Top topics

Most viewed Most shared
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
9774 views comments | 18 tweets | 30 linkedin
Championing financial inclusion and helping the UnstoppablesChampioning financial inclusion and helpin...
8320 views comments | 3 tweets | 1 linkedin
PayPal ready to spend $3bn a year on acquisitionsPayPal ready to spend $3bn a year on acqui...
8217 views comments | 13 tweets | 17 linkedin
No greater change will occur than that in financial servicesNo greater change will occur than that in...
7800 views comments | 7 tweets | 13 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
7695 views comments | 6 tweets | 14 linkedin

Featured job

Find your next job