Apple Pushes Back Australia's Bid To Regulate Apple Pay Like Credit Cards: 'Will ... Stifle Dynamic Innovation'
Portfolio Pulse from Benzinga Neuro
Apple Inc. has opposed a proposed regulation in Australia that aims to regulate its digital wallet service, Apple Pay, like credit cards. Apple argues that this could hinder innovation and increase regulatory burden. The regulation is part of Australia's broader initiative to implement stricter laws for tech companies like Apple and Alphabet Inc’s Google.
October 12, 2023 | 5:17 am
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NEGATIVE IMPACT
Apple's opposition to Australia's proposed regulation could potentially impact its digital wallet service, Apple Pay.
The proposed regulation could potentially hinder the development of Apple Pay in Australia, which could negatively impact Apple's business in the region.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
The proposed regulation in Australia could potentially impact Alphabet Inc’s Google.
While Google is not directly mentioned in relation to the proposed regulation, the company could potentially be impacted as the regulation is part of a broader initiative to implement stricter laws for tech companies.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50