A major UK bank's concern over data collected by Apple Pay is reportedly stalling negotiations to launch the mobile payments service in the country by "the first half of 2015." The Telegraph reports that "at least one" of the UKs biggest banks is "uncomfortable with the amount of personal and financial information Apple wants to collect about its customers."
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Concern from the UK over data collection and financial cross-selling could prove influential in other markets. The UK is fairly advanced when it comes to the use of new payment types and is home to 350,000 of Europes 1.5 million contactless point of sale terminals. For every compliant terminal in the UK there are also 200 contactless payment cards in use compared with a ratio of 600:1 in the US. Although Apple apparently has no problem working with banks in the US (a recent update means it now supports 90 percent of US credit card payments by volume), objections from the UK's financial sector could stir up trouble elsewhere in Europe.
