Australia

The battle between banks and Apple Pay in Australia has global implications, but there is a notable rift within the banks' ranks that drives home just who benefits and who suffers by Apple getting its way.

While Apple battles a group of large Australian banks over terms of its mobile payments app, it has entered separate deals with ING Direct and Macquarie.

The group of Australian banks that want to collectively bargain with Apple over terms of its Apple Pay app have sharpened their focus to an area the technology giant is likely to defend fiercely.

Westpac in has been aggressive in supporting and adopting emerging merchant and payment technology in Australia.

Australia’s central bank is set to deploy a new, faster payments system enabling near real-time payments for consumers and businesses that will roll out in 2017.

Sydney-based Octet Finance, a provider of supply chain management and financing tools for small and midsize businesses, has formed an alliance with Mastercard enabling users to make cross-border payments using their existing Mastercard credit and debit card accounts via virtual card technology.

Apple Inc. scored a victory in the global battle to control the future of mobile payment technology after the Australian competition regulator refused to grant a group of local banks permission to negotiate collectively over the introduction of Apple Pay.

Charitable giving is a big part of contactless payment innovation, and Quest Payment Systems is hoping to gain share in the Australian non-profit market.

Connected devices is the key innovation behind Optus and Frank Green's coffee cup that can also support contactless payments.

India's abrupt recall of its larger bills — a bid to crack down on tax evasion — was a crash course in how to adapt to a cash shortage. Was this an opportunity for mobile payments or a failing of the overall financial services system?