UK banks wary of Apple Pay data collection, but early 2015 launch possible

Some executives fear Apple Pay and the data it delivers to Apple could serve as a beachhead for an invasion of the banking industry.

Earlier this week, The Telegraph reported that several major British banks were in talks with Apple to launch Apple Pay in early 2015 in the United Kingdom. However, the paper also reported that at least one major bank was still negotiating with Apple over the terms of service, due to the bank’s concern that too much financial information would be accessible to Apple.
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