Saturday, September 13, 2014

Apple Pay: What Does Apple Get Out Of This?

Apple has yet to reveal some of the finer details of their new payment service, Apple Pay. According to The Financial Times, Apple will make 0.15% of each purchase.
"They are also paying hard cash for the privilege of being involved: 15 cents of a $100 purchase will go to the iPhone maker, according to two people familiar with the terms of the agreement, which are not public. That is an unprecedented deal, giving Apple a share of the payments' economics that rivals such as Google do not get for their services."
- The Financial Times


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