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.'"

Comments

Bank wants data

[danomatika]

Maybe the issue is really that the BANK wants that data and Apple isn't giving it to them ...

Typical "Big Lie"

[Thagg]

What the banks are really concerned about is not that Apple is collecting information, but that their customers will realize the opposite -- that using Apple pay is far more secure than other systems. If people start waking up to the fact that all of the information merchants are getting from credit cards can and will be used against them; then systems like Apple Pay are going to destroy the status quo.

What better way to try to stop this then by spouting a Big Lie? The banks are saying that they are worried that Apple is collecting too much information. If they can seed doubt into customers for long enough, then they may succeed in killing it.

Re:Typical "Big Lie"

[Thagg]

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.

Amount could be reduced, not increased...

[SuperKendall]

."It is understood the bank is uncomfortable with the amount of personal and financial information Apple wants to collect about its customers. "

Do realize that they could be uncomfortable because the amount of data Apple wants to collect is greatly REDUCED from what credit cards collect - the statement does not state which direction of the amount goes.

Negotiation tactic nonsense; real reason buried

[Anubis IV]

As the summary said, negotiations are ongoing. The fact that these claims are showing up right now and fly in the face of everything we've previously heard regarding Apple Pay seems to suggest that they are nothing more than a feeble attempt on the part of the banks to gain some better leverage in the negotiation process. They're hoping for outrage. Unfortunately, the only ones who give a crap about this stuff (i.e. us) are the ones who also know that Apple Pay is differentiating itself with its lack of collecting information.

As for why they'd want more leverage, the real reason is buried in the article:

The Telegraph also notes that some banking executives fear that Apple Pay could serve as a "beachhead for [Apple's] invasion of the banking industry."

Which is to say, the UK banks are concerned by the rapid uptick of Apple Pay in the US, are beginning to realize that it's gaining real traction, and are worried that it could be the means by which Apple establishes a toehold in the financial industry that allows them to begin exerting the sort of influence they have in other non-technology industries (e.g. music).