Credit Kudos acquired by Apple

Variious news outlets have reported that open banking specialist, Credit Kudos has been acquired by Apple as it increases its drive into the payments space.

Reports suggest that Apple closed the deal with Credit Kudos this week, marking its first move into the UK open banking space, It is predicted that the acquisition could related to a new Tap to Pay feature on the iPhone which will be introduced later this year which will allow merchants to pay via technology payments firm Block.

The firm also offers the Apple Cash card for digital peer-to-peer payments and is working on a service for Apple Pay that offers a buy-now pay-later style service.

It is though the deal was worth $150 million. A link labelled ‘website terms of use’ on the Credit Kudos website now leads to a page outlining Apple’s terms of use.

Credit Kudos was launched by Freddy Kelly and Matt Schofield in 2015.

Neither Credit Kudos or Apple have responded to requests for comment.