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A comment on Apple says Australia's banks pose a security threat to iPhones. Parent comment

Re:Apple says Australia's banks pose a security threat to iP... by kalleboo on Wednesday August 10, 2016 @04:12AM (#12260218)
FWIW, the EU also caps interchange fees (0.3% for credit cards and to 0.2% for debit cards) but that doesn't seem to have stopped Apple Pay adoption in the UK.
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Re:Apple says Australia's banks pose a security threat to iP... by abalone on Wednesday August 10, 2016 @02:48PM (#12263956)
That's a very good point. Some possible explanations (let me know what you think):

1) Banks have healthier competition in the EU? They wouldn't be able to form a cartel like they are trying in Australia.

2) Fraud liability is fully borne by the consumer in Europe, whereas Australian banks still have to refund customers?

3) It's a very new change (December), whereas Australian banks have lived with it for a decade or so.

Personally I think #1 is sufficient to explain it.

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