Commonwealth Bank of Australia (ASX:CBA) told an Australian parliamentary committee that the Reserve Bank of Australia (RBA) should use its newly-granted powers under the recent amendments to the Payment Systems (Regulation) Act to force Apple to give bank applications and other digital wallets access to the iPhone's near-field communication (NFC) capability for payments on fairer terms than those which Apple currently offers, The Australian Financial Review reported Tuesday.

The technology giant is said to earn over AU$100 million annually via transactions routed through Apple Pay, the report added, citing industry estimates.

The House of Representatives' economics committee will conduct a public hearing on digital wallets in February and is expected to call representatives from Apple.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)