American Banker:
Australian banks are pushing Apple to loosen its grip on the technology that enables mobile payments. The result could bode well for U.S. banks as they look to re-up agreements with the tech giant. Apple has maintained tight control over Apple Pay since its October 2014 launch, forcing participating U.S. banks to pay a toll of 10 to 15 basis points per transaction to access the near-field communication antenna, or controller, according to industry sources. Banks grumbled, but they paid up.
