Lloyds Banking Group is reportedly considering the acquisition of digital wallet provider Curve in a USD 162 million deal, with plans to deepen their involvement in digital payment infrastructure.

Officials from Lloyds have suggested that acquiring Curve would be a sound financial move. Bloomberg reports that this acquisition could be announced by the end of September 2025 if negotiations are successful.

The push for payment infrastructure expansion follows Apple’s compliance with European Commission regulations related to competition concerns. The commission required Apple to make certain commitments, which were made legally binding under EU antitrust rules and addressed the concern about Apple’s refusal to grant access to its NFC technology standards.

Increasing Mobile Payment Adoption in Europe

With mobile contactless payments growing rapidly across Europe, 2024 saw a significant increase in payment adoption. Online transactions surpassed 60% and in-store payments reached 25%, highlighting the need for competition beyond Apple Pay.

In early July 2025, Thales partnered with Curve to offer secure and advanced payment solutions on iOS devices, aiming to support financial institutions. This came shortly after Curve launched Curve Pay on iOS in the EEA, enabling iPhone users and customers to make contactless payments by double-clicking their device’s side button.

Curve Pay was introduced as a way for users in the European Economic Area to view and manage their money differently, providing a secure alternative. The digital wallet also became available on Android devices, ensuring universal access for all users.