Apple is in talks with at least one major UK bank to bring its mobile payments service to the UK in early 2015, according to reports. However, both sides appear to be far apart on terms of the agreement.
The bank is reportedly uncomfortable with how much information Apple would be collecting from its customers, though sources do not expect this to be a deal-breaker. Additionally, some UK banking executives fear that Apple Pay could be the beginning of Apple’s “invasion” of the banking industry.
Apple Pay, which launched in the US earlier this year, accounted for 1 percent of all digital payments in November. Its early success has prompted Apple to look into rolling out the service in other parts of the world.
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
Despite being behind the likes of Europe and China, the US payments industry is now rapidly advancing, said Anish Kapoor, CEO of AccessPay told GTNews in an exclusive interview.
Treasurers are more interested in cross-border payments and automation than real-time payments, as they are consistently asked to do more with less, argues Rick Burke, head of corporate payments at TD Bank in an exclusive interview.
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.