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

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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.”

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Apple’s NFC-powered cellular bills carrier Apple Pay is due to hit the UK marketplace in the first part of 2015, after gaining a few floor in the US at the finish of this yr, reports The Telegraph.

 However, negotiations among Apple and no less than one among the of the major banks in the G.G. is now not going easily as each events are preventing over the knowledge the former might be in a position to get right of entry to thru Apple Pay. The financial institution in query is concerned approximately all the private knowledge that Apple is in a position to gather approximately its consumers that would “function a beachhead for an invasion of the banking business.”

Nevertheless, resources of The Telegraph recommend that none of the major banks will like to fail to notice Apple Pay particularly after taking a look at its expanding reputation and preliminary reaction in the United States.

Apple Pay now bills for 1.7 % of the cellular bills marketplace after its release on October 20, nonetheless lagging at the back of Google Wallet’s 4 % percentage of the marketplace, in accordance to ITG analysis. The most sensible 3 retail places iOS customers took good thing about Apple Pay all through its first six weeks on the marketplace have been Whole Foods, Walgreens, and McDonalds.

“The new London-primarily based Apple Pay group will paintings to pressure the roll-out of this generation throughout EMEIA through running with numerous inner and exterior companions, together with groups in the US the place the product will first release and the EMEIA corporation, in addition to Issuers, cost networks and traders throughout Europe.”

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