Slashdot Mirror
Apple Pay For the UK
An anonymous reader writes about when Apple Pay will be available in the UK. "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 UK's biggest banks is 'uncomfortable with the amount of personal and financial information Apple wants to collect about its customers.' Apple has been adamant about its approach to collecting users' data via Apple Pay. 'We are not in the business of collecting your data,' said Apple exec Eddy Cue when introducing the service in September. 'So when you go to a physical business and use Apple Pay, Apple doesn't know what you bought, where you bought it, or how much you paid for it. The transaction is between you, the merchant, and your bank.'"
Do you honestly believe that the banks are selling credit card info, and that apple isn't sharing any of that info with anyone?
I don't know if the banks are selling credit card info; but I know that merchants are. Apple Pay prevents them from doing that, which is one of the big reasons that so many merchants in the US have stopped using NFC for payments, as this earlier Slashdot story describes.
A friend of mine was deeply involved in NFC payments at significant companies (not Apple) and says that not only is Apple not sharing the info; they can't. It's just not available. The NFC chips in the phone don't send out identifiable information.
I love Mondays. On a Monday, anything is possible.
Apple wants to collect NO information, an amount the banks find untenable. They, of course, run big data analytics on all their customers to target new products.
The bank is also heavily regulated and obliged to cover customers' losses to fraud and responsible for identifying money laundering activity.
Apple are.. not.