Cash & Liquidity ManagementPaymentsElectronic/MobileApple Pay Headed to the UK?

Apple Pay Headed to the UK?

Apple is in talks with at least one major UK bank to bring its mobile payments service to the UK in early 2015, according to reports. However, both sides appear to be far apart on terms of the agreement.

The bank is reportedly uncomfortable with how much information Apple would be collecting from its customers, though sources do not expect this to be a deal-breaker. Additionally, some UK banking executives fear that Apple Pay could be the beginning of Apple’s “invasion” of the banking industry.

Apple Pay, which launched in the US earlier this year, accounted for 1 percent of all digital payments in November. Its early success has prompted Apple to look into rolling out the service in other parts of the world.

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