by Michael MosherJune 7, 20150 comments
According To INTERNATIONAL BUSINESS TIMES, Apple Pay looks to be taking a hop across the pond this summer. Nearly eight months after Apple unveiled the mobile payment service, the company is planning to bring it to the U.K., according to the Telegraph.
Officially, Apple hasn’t announced the move. But according to sources speaking to the Telegraph, the iPhone maker plans to unveil the expansion of Apple Pay on Monday during the 2015 Worldwide Developers Conference at Moscone West in San Francisco. Two months later, the service will be officially switched on in the U.K.
Apple Pay uses near-field communication (NFC) technology built into its iPhone 6 and the Apple Watch to enable mobile payments with each device. Since its October launch, Apple has been in talks with banks and retailers about expanding Apple Pay’s reach in stores and additional countries, such as China and Canada.
The infrastructure to accept Apple Pay in the U.K. is mostly in place in the cuntry, since most of its “chip” card terminals also have the technology built in to accept contactless credit card payments. In contrast, the wireless payment technology is less prominent in the United States due to its use of older magnetic strip credit and debit cards.
But that’s expected to change in the coming months as the October deadline approaches for merchants to install credit card terminals that support “chip” card technology. Many of these terminals will have the technology to support Apple Pay already installed. In addition to its expansion, Apple’s mobile payment service may also get some new features, such as a new rewards program.
Apple was previously expected to launch its rewards program during the 2014 holiday season, but it was never unveiled during that period. In the United States, Apple Pay has grown from a dozen supporting banks to more than 300, according to 9to5Mac.