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.
- Wells Fargo adds support for Fitbit Pay
- Apple details Apple Pay Cash in updated iOS Security guide
- India to add face recognition to Aadhaar biometric ID system
- Bank of America reports 84% rise in P2P payment transactions
- One in five Brits to make mobile payments in stores this year