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ANZ Bank's Apple bet paying off

ANZ Bank’s Apple bet paying off

(10 May 2016 – Australia) Australian banks may be forced to re-visit talks with Apple to implement its mobile payment service Apple Pay, following the initial success of ANZ Bank’s implemenation.

The launch has generated an increase in interest for ANZ’s credit card and deposit facilities and according to a report by Fairfax, the bank’s Apple Pay microsite had 61,000 unique visitors in the first few days.

The bank’s chief executive said that online credit card applications had increased since the Apple partnership was announced last month. Speaking during the bank’s half-yearly results, ANZ CEO, Shayne Elliott indicated applications had increased by 20 percent.

Elliott added that deposit application were the highest on record, and “that high level continuing.”

ANZ’s “Big Four” competitors, Westpac and National Australia Bank, have said that negotiations to install Apple Pay are still in the works.

Westpac’s chief executive Brian Hartzer said: "It would be nice for us to offer [Apple Pay] in the context of what we are doing but in the end it has to be commercially sustainable. We will continue to talk to [Apple] and other wallet providers and see where we get to."

Although NAB currently offer NAB Pay on Android-based devices, which has been enabled by 25,000 customer according to the bank’s chief, Andrew Thorburn, it “would like to deploy it with Apple.”

“But obviously that is an important conversation that we will have to have with them. We think NAB pay is strong and easily deployable on any device, we just need to work with the providers to get that to be the case,” he said.

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