Apple’s contactless payment service will launch in the UK in July, but the system could be limited to transactions of 20 or less.
The company has agreed details with eight major banks, including Natwest, HSBC, and Lloyds.
Retailers including Boots, Marks & Spencer, Lidl and Waitrose have also signed up. In total 250,000 merchants will accept Apple Pay.
It will also be available to use with Transport for London, meaning commuters can use it on London buses and the Underground.
Apple Pay also allows customers to pay online, by using finger print technology.
However, the BBC reports that most payments using the new Apple Pay system will be limited to £20.
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 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.
Retailers including Marks and Spencer and Waitrose have announced they will offer the service when it launches.
