disagree CP,many directors are in their positions because of connections .
Imo if you want to take it back to basics there were only 3 countries trialing mobile phone 'tap' payments in 2006/2007 korea,japan and telstra.(sol trujillo) thodey shelved the trials in 2009 and said leave it to the banks but as well known ntt japan and kt korea continued and have established with great success mobile tap payments in their countries since .(now changed to hybrib nfc)
Apple will probably make agreements with these companies/countries should have included australia) because japan and korea have had 8 years to develop and establish their mobile phone payments in their countries so for apple probably better to jv than compete in order to establish global acceptance by those countries merchants.Sol was very clever and led japan and korea in mobile techno logy and website sales potential eg sou fun an auto home.
Dumb australia has the most advanced nfc network but as publicised no one wants to conceed any of their business model eg tls with their network but to make it worse seems tls has no interest in such a leading technolgy in nfc or the banks who are trying to protect their swipe fees therefore leaving it open for apple,alipay, google vodafone optus etc.
This should not be underestimated by shareholders,sol was absolutely 'brilliant' regarding the future of technology eg data usage ,website,850mgz frequency etc he led global telecoms , and thodey imo should not have shelved trujillo's nfc trials,thodey is succeeding only because sol built a 3 g network under much critricism with the technology he decided to use and clearly was ahead of japan and korea regarding mobile phone technology etc.
Regarding your comment on cloud,it makes no difference if banks can bypass telcos with their payment apps,imo its common sense ,who controls the mobile phone eg future banking ,its either techs like google,apple or samsung or the competition telcos scale will count on a country basis eg tls.
telcos and techs have the customer bases not banks, then add customer bases like wes or wow or both and you have australian mobile payments secured like alibaba,ntt or kt korea.eg tls wes wow
A successful payment app requires security,user friendly and merchant acceptance domestic and global.Well wes and wow is the merchant acceptance scale for australia,tls the security transaction and scale, eftpos 'hopefully' the payment app..
Wes are smart and i am not trying to say i am smarter but if you have read the articles of the conflict going on within australian companies whether it be tls wanting to charge for their network nas abilitiy or the banks trying to protect their credit card business profits and other future sector profits ,well you can say these ceo's are smarter than us average joes but imo 2015 will prove your smart ceos have made some serious mistakes eg tls and the banks not wes or wow, maybe with one or two exceptions eg eftpos etc (already stated atms will be replaced by nfc contact points)and imo pressure will be put on the above companies for not establishing and protecting their sectors as apple,probably google vodafone etc etc release their apps in a dumb country with no domestic payments network.
ps even nz has establihed the future nfc payments networks.
Silly imo to say ceo's are smarter than us just because they are ceo's of major australian companies,so lets see what happens.
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