Mastercard, Visa etc all take a fee for transactions.
There are serious costs involved in running an international payments system.
But that's very different from a proper 30% style cut.
There are serious costs involved in running an international payments system.
But that's very different from a proper 30% style cut.
Apple has none of the risk and somehow thinks it is appropriate to charge per transaction AND customer. Yes, they charge the companies who wish to integrate with apple pay a quarterly fee per card.
Apple customers are footing this bill, of course, as vendors and banks aren't just going to lose money. Apple is way out of line, and apple customers would benefit from informing themselves.
Heading to a billion and beyond in the next couple of years.