The ACCC has shaken up a group comprising three of the four major banks, along with the largest regional, Bendigo Bank, by denying them authorisation to collectively bargain with, and potentially boycott, Apple on the terms and conditions for accessing Apple Pay.   The Australian Competition and Consumer Commission was equally quick to point out that yesterday's keenly awaited decision was a draft determination on a request by four banks: the Commonwealth Bank of Australia, Westpac Banking Corporation, National Australia Bank, and Bendigo and Adelaide Bank. The group is seeking authorisation to bargain with Apple on two key issues: Â·       access to the near-field communication controller in iPhones, which would enable the banks to offer their own integrated digital wallets to iPhone customers in competition with Apple's digital wallet, but to do so without using Apple Pay (and associated fees); and·       removal of the restrictions Apple imposes on banks preventing them from passing on fees that Apple charges the banks for the use of its digital wallet. "This is currently a finely balanced decision. The ACCC is not currently satisfied that the likely benefits from the proposed conduct outweigh the likely detriments," ACCC Chairman Rod Sims said. "While the ACCC accepts that the opportunity for the banks to collectively negotiate and boycott would place them in a better bargaining position with Apple, the benefits are currently uncertain and may be limited," Sims said. There will now be a further period of intense review and lobbying by all sides, as the ACCC has flagged that a final determination is set for March 2017. Reaction was swift: "If the draft determination of the Australian competition regulator stands, effectively there will be no competition against Apple for mobile payments on the iPhone," Lance Blockley, payments specialist and spokesperson for the applicant banks, told ABC Radio. "Many organisations supported our application with their own submissions, across major retailers, fintech companies and card schemes, and we encourage them to respond to the draft determination with further submissions during the consultation period." The list of heavyweight players who have already supported the banks against Apple in the first instance include the Australian Retailers Association, which argued in its submission last month that new mobile payments services are unlikely to succeed if they are not available on iOS devices. "In our view, for as long as Apple Pay remains the only app that can use the iPhone's NFC functionality, the potential for innovation in mobile wallets and mobile payments will be limited," their submission said. Coles was another major player - itself harbouring ambitions of moving further in financial services - that backed the banks, pointing out that the industry had "collectively made very significant investments in payments technologies like NFC," and was run as an open and inclusive approach. Standing back from the furore were ANZ and American Express, of course, which have already come to terms with Apple Pay. They will be joined by 31 mutual banks and ADIs that are associated with payments player Cuscal. The ACCC is concerned about a possible reduction in the competitive tension