Commonwealth Bank calls on government to regulate Apple in Australia

Commonwealth Bank has urged the government to properly regulate new big tech platforms entering the financial services industry such as Apple.

Apple Pay is already highly popular, with usage up from 11.1 per cent in February last year to 15.2 per cent this year - according to Roy Morgan Research.

"Creating an environment where digital platforms are able to avoid regulation could see a hollowing out of domestic industry," CommBank said in its Submission to a Senate Economics Committee submission.