Australia Considers Case for Opening iPhone NFC Chip to Third Party Payment Systems

Apple on Monday responded to questions from Australia's parliament about its third-party access approach to the NFC chip in its iPhones, following claims that its Apple Pay system is stifling innovation in the contactless payment technology space. The Parliamentary Joint Committee on Corporations and Financial Services heard for-and-against arguments from Apple, Google, and others relating to whether Apple should open up access to its near-field communication (NFC) chip. Australia's big banks ha...