Negotiations between the Silicon Valley giant and at least one of the biggest banks have proved tricky, however, because of wrangling over the terms, including what data Apple will be able to access, according to sources. It is understood the bank is uncomfortable with the amount of personal and financial information Apple wants to collect about its customers. Some executives fear Apple Pay and the data it delivers to Apple could serve as a beachhead for an invasion of the banking industry.
Notably, iClarified first reported a few weeks ago that Apple is forming a new Apple Pay team in London to help expand the service across Europe, the Middle East, India, and Africa.
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