No big business combine has ever before tried to secure clearance for a collective bargain and collective boycott from the ACCC, and after last week's humiliation of four banks over Apple Pay, probably no oligopoly in Australia will ever try again.On pillar after pillar of the banks' case over Apple Pay the Australian Competition and Consumer Commission sided with Apple, an admittedly powerful and defiant counterpart to an Australian banking sector conditioned to coordination and collaboration on payments.Whatever were they thinking? And which Australian banking CEO (or influential subordinate) is chiefly responsible for dreaming up and fostering the Apple Pay boycott? Answers to those questions remain in the shadows.ANZ (the smallest of Australia's "Big Four") peeled away a year or so ago to forge its own path with Apple. As early adopter (alongside American Express) ANZ now has a two year start on its peers, given the long lead time for CBA, NAB and Westpac to make Apple Pay ready for market.While yet to establish any clear advantage from moving early on Apple Pay, ANZ, along with 48 other issuers, is spared the disdain still directed at CBA, NAB, Westpac and Bendigo (on social media, for example) for being seen to obstruct innovation in payments.The ACCC listed "distortion in competition in mobile operating systems" as a principal reason for spurning the banks."The ACCC considers that NFC access as a result of the proposed conduct is likely to result in a significant public detriment [and] distorting competition between mobile operating systems affecting platform competition between Apple's iOS and Google's Android operating systems."The banks' plan, the ACCC said, would also "alter the user experience of Apple's mobile payment service."Uninhibited access to the iPhone's NFC radio controlled functions was "likely to involve modifications to Apple's software or hardware that lessen the degree of differentiation between the iOS platform and the Android platform," the ACCC said. This was also a topic on which Apple insisted it would not budge (given its vertically integrated model for market positioning on security).The ACCC accepted Apple's position on its business model but was more diplomatic on the banks' take on payments security."The ACCC does not consider it necessary to form a view on the relative security of using a Secure Element over HCE, but notes that the two approaches represent competing models to the provision of mobile payment services, which may each come with distinct advantages and disadvantages."The ACCC said it was "concerned that NFC access is likely to result in a significant public detriment."If the banks were successful in securing NFC access, this is likely not only to lessen the degree of Apple's differentiation from the Android platform but also to alter the consumer experience offered by Apple's competitively differentiated iOS platform. The ACCC also scorned efficiency arguments advanced by banks."Contactless card payments using NFC technology are already well accepted and widely used in Australia. Consumers are also more likely to transition to mobile payments from contactless cards rather than consumers who are not aware of or