Apple Pay (Wallet)


Geez, that’s an exact replica of the CBA website. Wonder how much longer that brand will stick around for?


not that I have an Apple Watch (yet), but I presume that you will be able to tap pay with a watch?


Well you learn something every day: “You can make contactless payments using your Fitbit or Garmin by linking it to your CommBank credit or debit card.”


I still don’t know how exactly Apple Pay works. Does Apple make money out of it? If so, how much, and who loses out, the customer, the retailer or the bank? Does Apple Pay have any correlation with funds in your iTunes account? I do not have an account linked to my iTunes account, I always top up with discounted vouchers.


Apple takes a cut. You don’t pay them. You don’t need iTunes funds.


Apple takes a cut, and the only ones losing out really are the banks. You need a bank account or credit card that is ApplePay ready and the money is debited from there when you make a payment. It has no relation to iTunes.

ANZ also lets you take out money from an ATM simply by tapping your Apple Watch or iPhone.


Contemplating letting Apple Watch go, and reverting to fitbit. Seems Macquarie Bank now has fitbit pay, too… so its a contender.


Correct is also Google Pay and Samsung Pay

It’s quite technical I don’t know if you want a technical answer or not but essentially it allows you to virtualise your card and tappet anywhere that contactless payments are accepted anywhere in the world.

Yes they take a cut of what’s called interchange. As Interchange fees are heavily regulated in Australia the cut is rumoured to be now a lot lower than it is in other markets.

The bank. And Apple forces them to absorb their losses. There contract with Apple for offering Apple Pay disallows them for pushing the additional cost off to merchants and consumers.

No in actual fact you can only pay for purchases with a credit card on file with Apple you can’t even use Apple Pay for purchases on iTunes the App Store and the Mac App Store.

The only connection Apple Pay has to iTunes is it will retrieve a card on file with them and prompt you to set up it in Apple Pay if it’s a supported card.

There’s no need you can continue doing this.

Actually I debate that the banks actually do lose out, I feel they get additional security benefits and fraud protection is less fraud likely to happen with Apple Pay.

Very much this it requires the bank to support it and they need to support it on your card there is banks that have cards that are not supported an Apple Pay that have cards that are supported in Apple Pay.

It’s best to consult your financial institution regarding Apple Pay support. You also can check our spreadsheet

Correct but this is a feature I don’t expect all banks to be able to replicate. and I believe out of the major 4 only one more can do it and that bank hasn’t announced Apple Pay.

Unless a couple of them were willing to go to mass replace or update their ATM fleet. Which I highly doubt it is going to happen under the current climate regarding ATMs.

Possibly if the banks get governmental approval to do what they’re thinking about doing.

A recent addition. Believed to be also supporting Samsung Pay soon.


@settz Commonwealth paid about $2b for BankWest, so I doubt they will let the brand fold - even if it is just effectively another branch of CBA now.


Bankwest still has separate systems/processes to CBA. If you send money between the two it’s not instant (I have accounts with both) unless you use PayID. Having said that, really though I don’t get why they’re keeping the brand around, apart from if they got rid of it and just turned Bankwest Branches/Offices into CBA ones, it would probably piss off a lot of Western Australians who have loyalty to that brand. I reckon it’s inevitable and just a matter of when. I actually worked for CBA when they “took over” the State Bank of Victoria in the 90’s and that takeover was pretty painful (we we inevitably started working with SBV staff, for a while they were quite resentful and standoffish even though it obviously wasn’t our fault).


Other benefite of Apple Pay include:

  • Security. No one sees or touches your card, physically or electronically. The only data transferred to the merchant is a one-time-only code, which is useless afterwards
  • It varies, but at some merchants you do not need to enter a pin even for large transaction amounts. So your pin is not exposed either


Not directly related to Apple Pay, but a general whine. I have a company account with Bankwest, and I went with them because it was the best deal I could find. However, they enforce 2FA with a physical security token. It’s impossible to log in without the token code and you can’t opt out. Even logins via iPhone app require it.


That’s pretty much it in one. Contactless payments first came in with low maximums. The value of which were weighed up against the cost of fraud investigation.

A number of banks have increased their limits on Apple Pay (initially requiring entering your pin for transactions over $100 iirc) as the cost of fraud is much lower for them than with card taps. It might even be cheaper for them to pay Apple the fees, though until we see the numbers…


So that’s something


Actually there is no way for them to increase the limit on contactless payments without a PIN that is hard set at $100 here in Australia, you can use contactless for over $100 but you need to enter a PIN.

Apple Pay Supports Consumer Device Cardholder Verification Method (CDCVM)
which allows your fingerprint or face to be able to be accepted instead of a pin on transactions over $100 in Australia.

CDCVM, from our understanding needs to be supported by the bank/financial Institution and the merchant terminal (Retailer)

If your bank doesn’t support CDCVM you can’t do this anywhere if your bank does support the feature you can do it at any merchant that supports CDCVM.

Wasn’t clear initially as a lot of big retailers definitely did not support CDCVM so initially when Apple Pay rolled out it wasn’t obvious if your bank had support enabled or not.

But from my memory it did take a while after ANZ announced and released Apple Pay before some of the big retailers like Woolworths and Coles started updating their terminals.


So how many Apple-Pay enabled cards are also dual-network?


As scheduled here is the official media releases for “dual-network debit cards with Apple Pay in Australia

eftpos Australia


My updates were scheduled to go out later tonight to the spreadsheet and I’m going to be sticking to that schedule.

A lot more then the banks that have eftpos only cards supported in Apple Pay, These cards can be easily identified if you flip them over and they have the eftpos logo with a contactless payments logo close by normally next to it.

Unfortunately so far only one bank has announced support for dual scheme cards and that is ANZ.


Looks like an ANZ-only thing for now. I have three cards in Apple Pay but even though my Macquarie card has the Eftpos logo on the back, no joy when removing and re-adding it to Apple Pay.


Yeah as I mentioned it only ANZ at the moment. Other banks could add the feature but it would require them to implement it. they’re the only ones that have announced support today.


Commonwealth Bank printed material for Apple Pay (Unverified, May not be genuine.)