Why Don't We Have Apple Pay Yet? Fussy Banks May be to Blame

By Tom Pritchard on at

It's been about six months since Apple launched its iPhone-based mobile payment service Apple Pay over in the US, but, despite a number of leaks, an international rollout has yet to materialise. As it turns out, the banks may be to blame.

According to the Wall Street Journal the second country to get Apple Pay will be Canada, with a launch reportedly scheduled for November. For those of you keeping track, that's just over a year after the service first launched in the States. Apparently Canada's six major banks don't like the fees Apple is asking for, especially since they are higher than those currently paid by US banks.

Apparently it would like to offer mobile payments, but it's that fact, and concerns about potential misuse, that are prolonging negotiations.

It's not that much better over here either. At the tail-end of last year, The Telegraph reported that Apple was in talks with UK-based banks over bringing the service to our shores in the first half of 2015. At the time it was claimed negotiations had proved tricky because the banks were uncomfortable with the amount of personal information Apple would have access to. Presumably money will also be a factor, and if they feel Apple's fees are unreasonable then that's going to cause problems.

So those of you eagerly awaiting the chance to pay for stuff with your iPhone/Apple Watch know who to blame for your extended wait. Those ruddy banks causing problems again. [BGR]