British banking giant Lloyds is in talks to acquire U.K. FinTech Curve. Lloyds is looking to pay £120 million ($161.9 million) for the digital wallet provider, and that an announcement could come by the end of September if negotiations succeed. If the £120 million figure is correct, that would represent a lower valuation than the £133 million Curve raised in its Series C funding round in 2023. Curve was being advised by KBW, part of the investment bank Stifel, on the discussions with Lloyds. It was also reported to have raised more than £40m last year, while reducing employee numbers and suspending its US expansion. In total, the company has raised more than £200m in equity since it was founded. Curve has been positioned as a rival to Apple Pay in recent years, having initially launched as an app enabling consumers to combine their debit and credit cards in a single wallet. Lloyds had identified Curve as a strategically attractive bid target as it pushes deeper into payments infrastructure under chief executive Charlie Nunn. Lloyds is also said to believe that Curve would be a financially rational asset to own because of the fees Apple charges consumers to use its Apple Pay service.