Apple is reportedly in talks with major banks to bring Apple Pay to the U.K.

Apple’s NFC-powered mobile payments service Apple Pay is due to hit the UK market in the first half of 2015, after gaining some ground in the US at the end of this year, reports The Telegraph.

 However, negotiations between Apple and at least one of the of the major banks in the U.K. is not going smoothly as both parties are fighting over the data the former will be able to access through Apple Pay. The bank in question is worried about all the personal data that Apple is able to collect about its customers that could “serve as a beachhead for an invasion of the banking industry.”

Nevertheless, sources of The Telegraph suggest that none of the major banks will like to miss out on Apple Pay especially after looking at its increasing popularity and initial response in the United States.

Apple Pay now accounts for 1.7 percent of the mobile payments market after its launch on October 20, still lagging behind Google Wallet’s 4 percent share of the market, according to ITG research. The top three retail locations iOS users took advantage of Apple Pay during its first six weeks on the market were Whole Foods, Walgreens, and McDonalds.

“The new London-based Apple Pay team will work to drive the roll-out of this technology across EMEIA by working with a variety of internal and external partners, including teams in the US where the product will first launch and the EMEIA organisation, as well as Issuers, payment networks and merchants across Europe.”

So what do you think ?

Like this post? Share it! 


blog comments powered by Disqus
Octofinder Blog Catalog