Business Technology

Saturday 1 October 2016

Apple hunts Irish bank partners for new mobile payment system

Published 12/04/2015 | 02:30

Apple Pay is also one of the highlighted features of Apple's upcoming Watch gadget.
Apple Pay is also one of the highlighted features of Apple's upcoming Watch gadget.

Apple has begun to contact Irish banks ahead of a possible rollout of its wireless Apple Pay technology later this year, according to sources in Irish financial institutions.

  • Go To

The technology, which allows iPhone and Apple Watch owners to pay for things in shops just by swiping their device, has proven to be a hit in the US with two out of three iPhone 6 owners using it since it launched in 2014.

And now the technology giant has begun reaching out to financial institutions in Ireland and the UK.

"They've been talking to all the banks," said Stephen White, AIB's chief operating officer. "It's not for us to say when that might be adopted by us or other banks as we still have a watching brief on it."

Visa and Mastercard have both signed up for their credit cards to be used in conjunction with the system. Apple Pay is also one of the highlighted features of Apple's upcoming Watch gadget.

In the US, 180 US banks and financial institutions have signed up to the system, as have 68 retail chains and merchants.

Financial analysts tip the UK as the European market most likely to see Apple Pay launched first, partly because it is Europe's biggest market for Apple in iPhone penetration per capita. The payment service is expected to arrive in Europe within the next six months with some analysts saying it could land by the end of the summer.

A spokesman for Apple said that the company had no updated position on plans to launch Apple Pay in Ireland or in Europe.

Sunday Indo Business

Read More

Promoted articles

Editors Choice

Also in Business