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

BY Rajesh Pandey

Published 29 Dec 2014

image Bank of America Apple Pay ad

According to a report from The Telegraph, Apple is in talks with major banks in the U.K. to launch Apple Pay in the country during the first half of 2015.

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 has been a huge hit for the Cupertino based company and has single handedly revolutionized the mobile payment market. While Google, PayPal and other big companies had tried their hands at a mobile payment service before Apple, none of them were able to offer the same level of convenience and security that Apple manages to provide with Apple Pay. The service is already popular and bigger than other mobile payment services with Apple activating more than 1 million credit or debit cards on Apple Pay within 72 hours of its launch.

In the United States, Apple already supports all the banks that process nearly 90% of the credit cards transactions with Apple Pay being responsible for nearly 1% of all the credit cards transactions in November.