The full 19-page contract that banks wishing to offer Apple Pay to their cardholders must sign in order to take part has been leaked to Digital Transactions. Among the fees and obligations set out in the contract banks agree to make at least 95% of their network-branded cards available to the wallet, to submit in-depth accounting reports twice a year and to pay a 0.15% commission to Apple. The contract also reveals that fees due to Apple will be collected on the iPhone maker’s behalf by Visa and MasterCard.
- Bank issues primary school kids with NFC smartwatches that let them make payments and track pocket money
- New Little Caesars Reserve-n-Ready service transforms the way customers pick up pizza
- Mobile payment usage ‘remains low’, US debit card study finds
- Report: 2017 Mobile Payment Usage in China
- M-Pesa founder shares lessons learned from ten years of mobile money