According to the Commonwealth Bank of Australia, Apple is enjoying 80% market share in the digital wallets space.
The PayPal Super App offers direct deposit, bill pay, a digital wallet, peer-to-peer payments, shopping tools, crypto capabilities and more.
The Australian government is considering new laws that would tighten the regulation of digital wallets built by tech giants such as Apple and Google.
Facebook prefers to launch Novi alongside Diem, a kind of digital currency called a stablecoin, which would be tied to the US dollar.
A Joint Committee examining mobile payments and digital wallets has heard that US tech giant Apple is stifling competition and innovation in Australia.
While Apple Pay Later wouldn’t require you to get an Apple Card, it will reportedly require you to apply for approval via the Wallet app.