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.
- NXP, Shanghai Unicom and Roam2Free collaborate to develop secure eSIM solution
- Mastercard launches several new APIs for developers
- Apple makes NFC tag reading available for beta testing
- Sydney man has Opal card implanted into hand to make catching public transport easier
- Beijing subway launches smartphone version of travel card