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    News in brief

    Google misses out on transaction fee revenues

    News in brief

    Google won’t earn any transaction fees from credit card issuers for Android Pay, unlike Apple which receives 0.15% of the value of each credit card transaction made with Apple Pay,  sources have told The Wall Street Journal.“That is because Visa and MasterCard recently standardised their tokenization card-security service and made it free, preventing payments services from charging fees to issuers,” the newspaper reports.

    Filed by Email Rian Boden Published • Last updated 8 June 2015, 10:45

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