French Apple Pay Launch Rumoured by End of 2016

Following reports of Apple Pay expanding into further markets, voices have started whispering that the mobile payments service will also launch in France. The first report came from iGen.fr, which heard something about a June launch, but now LesEchos‘ sources are talking about a late-2016 launch, which could also mean an end-of-the-year rollout.

Apple is allegedly in talks with several of banks, which seem to be interested in adding their products (bank cards) to the Apple Wallet. The information has been confirmed by several sources, which claim that a few of the major French banks are about to finalize terms and enable Apple Pay for their customers by the end of the year.

As with previous negotiations, Apple’s cut is one of the hottest topics in the negotiations. Apple charges 0.15% per transaction in the US, but sources say it has agreed to charge less than half this amount in China. In France, a debit card payment of €45 generates 9 cents for banks, and the standard Apple Pay deal would mean the iPhone maker would get five of those nine, which could be a condition that needs adjustment, the sources suggest.

Thanks Carmine!