Apple Pay goes live with smaller Australian banks and credit unions

Posted: 15 November 2016 7:11 am

Customers whose banks use Cuscal as their payments processor can now access Apple Pay.

It was only last week that Cuscal announced that it had signed a deal that would see 31 of its partner financial institutions, including a range of smaller banks and credit unions, adopt Apple Pay as a payment processing platform with the promise that Apple Pay would be available "soon".

Soon in this context is today, with many of the insitutions on Cuscal’s original list announcing Apple Pay compatibility from today. The move expands the number of institutions offering Apple Pay quite markedly, as previously it had been open only to ANZ and American Express Card customers where the card was issued by American Express itself. The other big three banks are engaged in an ongoing fight with Apple over access to the NFC hardware that enables contactless payments. Apple argues that the big banks aren't interested in competition in the payments space.

Not every financial institution initially named by Cuscal (you can check the list here) appears to have jumped on board just yet. While several larger outlets, including Teachers Mutual Bank and Bank Australia, are displaying Apple Pay compatibility notices on their homepages, a number of other smaller financial institutions are not displaying an indication that they’re doing so. That may be because they plan to come on board with Apple Pay at some later stage, or could simply be that they haven't updated their sites. they’re not displaying it directly on the respective web sites just yet. If you're not sure if your bank or credit union has activated the service, the best move would be to contact it directly.

Cuscal had already signed a deal that allowed its banks and credit unions to adopt Android Pay as well, which means that customers of those institutions now have access to a wide range of contactless, smartphone-based payment solutions. Check our list of banks offering Android Pay and banks offering Apple Pay to see who is on board.

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