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| Apple Pay transactions will be capped at £20, banks admit | Apple Pay transactions will be capped at £20, banks admit |
| (35 minutes later) | |
| Payments using the new Apple Pay system will be limited to £20 when it launches in the UK in July, the BBC understands. | Payments using the new Apple Pay system will be limited to £20 when it launches in the UK in July, the BBC understands. |
| Major UK banks, apart from Barclays, have announced they will offer the new system. So too will many retailers. | Major UK banks, apart from Barclays, have announced they will offer the new system. So too will many retailers. |
| Apple Pay allows owners of an iPhone 6 or an Apple watch to pay by touching their devices on contactless pads. | Apple Pay allows owners of an iPhone 6 or an Apple watch to pay by touching their devices on contactless pads. |
| But banks have told the BBC payments will be capped at £20, similar to existing contactless payments. | But banks have told the BBC payments will be capped at £20, similar to existing contactless payments. |
| The limit on contactless debit and credit cards is due to rise to £30 in September. | The limit on contactless debit and credit cards is due to rise to £30 in September. |
| While that is likely to be the limit for many Apple Pay transactions, it is thought that separate agreements with some retailers may eventually allow for higher payments. | While that is likely to be the limit for many Apple Pay transactions, it is thought that separate agreements with some retailers may eventually allow for higher payments. |
| "The majority of terminals will work to a £20 cap, whether with a debit or credit card, or a contactless device," a spokesperson for Mastercard told the BBC. | "The majority of terminals will work to a £20 cap, whether with a debit or credit card, or a contactless device," a spokesperson for Mastercard told the BBC. |
| Tube journeys | Tube journeys |
| Apple Pay also allows customers to pay online, by using finger print technology. | Apple Pay also allows customers to pay online, by using finger print technology. |
| Retailers including Marks and Spencer and Waitrose have announced they will offer the service when it launches. | Retailers including Marks and Spencer and Waitrose have announced they will offer the service when it launches. |
| Tesco said it had no plans to formally adopt the system, although the technology will work in some of its stores in London which already have contactless payment facilities in place. | Tesco said it had no plans to formally adopt the system, although the technology will work in some of its stores in London which already have contactless payment facilities in place. |
| Asda said it would not be taking part. Its parent company Walmart has not signed up to Apple Pay in the US. | |
| Many companies will not need to install new payment hardware, as the Apple system will use the existing contactless system. | Many companies will not need to install new payment hardware, as the Apple system will use the existing contactless system. |
| London Underground, for example, said that visitors from the United States who are registered with Apple will already be able to use their phones to pay for tube journeys. | London Underground, for example, said that visitors from the United States who are registered with Apple will already be able to use their phones to pay for tube journeys. |
| Contactless journeys on buses and tubes in the capital account for 17% of all such transactions in the UK. | Contactless journeys on buses and tubes in the capital account for 17% of all such transactions in the UK. |
| No one from Apple was available for comment. | No one from Apple was available for comment. |
| A rival service from phone operator Samsung is likely to launch in the UK later this year. | A rival service from phone operator Samsung is likely to launch in the UK later this year. |
| Read more about Apple Pay and the company's new music streaming service. |