Lloyds Banking Group is considering acquiring digital wallet provider Curve in a deal valued at USD 162 million. The bank aims to deepen its involvement in the digital payment landscape.

If negotiations are successful, Lloyds could announce the acquisition by the end of September 2025. Officials from Lloyds believe that Curve would be a sound financial asset to incorporate into their portfolio. According to Bloomberg, the acquisition is seen as an expansion for payment infrastructure amid increasing regulatory pressure on Apple to open its payment services.

Lloyds’ Strategy to Acquire Curve

This move follows Apple’s acceptance of the European Commission’s ruling on competition concerns. The Commission has made commitments offered by Apple legally binding under EU antitrust rules, addressing concerns related to Apple’s refusal to grant rivals access to its NFC technology.

With mobile contactless payments gaining momentum in Europe, payment adoption rates have surpassed 60% for online transactions and 25% for store payments. This trend has put pressure on companies like Apple, which restricts users to Apple Pay with limited options for competition.

Curve’s Strategic Partnership and App Launch

In the beginning of July 2025, Thales announced a partnership with Curve to provide secure and modern payment solutions on iOS. This initiative came as Curve launched its own app, Curve Pay, on iOS in the European Economic Area (EEA), positioning it as a competitor to Apple Pay.

Curve Pay’s introduction aimed to empower users in EEA countries with new secure spending options. The digital wallet is also available on Android, offering universal access to all its users regardless of their device.