MANY Australians will have to wait months longer to use Apple Pay after the national competition watchdog today refused to let major banks negotiate as one with the technology giant.

Banks including Westpac, the Commonwealth Bank, and National Australia Bank had sought “urgent” permission to collectively strike a deal with Apple, paving the way to expand its digital wallet solution into the pockets of more Australian iPhone users.

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But the Australian Competition and Consumer Commission today denied the request and postponed a draft ruling until October.

ACCC chairman Rod Sims said the issues related to the request were too complex to rule on in a limited time, and the Commission needed to investigate its effect on competition.

“The entire ACCC authorisation process usually takes up to six months, including the release of a draft decision for consultation before making a final decision,” he said.

“The ACCC’s decision not to grant interim authorisation at this time is not indicative of whether or not a draft or final authorisation will be granted.”

The banking collective, which also included Bendigo and Adelaide Bank, is attempting to negotiate on potential fees and security processes.

It is also seeking access to the Near Field Communication technology in Apple iPhones to deliver alternative digital wallet solutions.

Apple Pay lets users pay for goods by touching an iPhone to a tap-and-pay credit card reader at the checkout.

A banking consortium spokesman released a statement this afternoon, stressing a group negotiation would benefit consumers.

“This application seeks to ensure that Australian customers are able to choose between different mobile wallets to make payments easily,” the statement read.

“This application has broader industry benefits too. A number of other Australian institutions have supported the ACCC granting the authorisation, including Heritage Bank, Tyro and Indue.”

Forrester principal analyst Alyson Clarke said Apple’s policy to charge banks a percentage of each transaction is “the reason why so many of the banks have held out against Apple”.

“They’re basically saying no, we’re not paying what the banks in the US pay,” she said.

In Australia, only ANZ and American Express have agreed to Apple’s terms so far.

The company is facing competition from Samsung and Android Pay, however, which launched this year with more financial institutions.