Amex: ANZ and Amex the winners in Australia's banks' fight with Apple over payment apps

By David Glance, University of Western Australia Australia's banks have always enjoyed a lucrative income from credit card "interchange fees", the charges that the banks levy on merchants' sales. These fees amount to $2.5 billion a year which are ultimately passed on to consumers. Unwilling to share any of this revenue with Apple, all but ANZThe post ANZ and Amex the winners in Australia's banks' fight with Apple over payment apps appeared first on SmartCompany.