Australian Banks avoid Apple Pay, announce their own Beem mobile wallet

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Three of Australia’s largest banks have continued to ignore Apple Pay and announced a new joint venture named Beem that is charged with developing a mobile wallet for iOS and Android users. Westpac, the Commonwealth Bank of Australia (CBA), and the National Australia Bank (NAB) claim that customers will be able to use the app regardless of which bank they use, including organisations outside of the trio, with the end goal to be creating an “industry-wide payment solution”. Westpac chief executive of Consumer Bank George Frazis claimed the app followed…

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