In reply to Jeffrey Toewe.

There are a lot of questions at this point. In addition to the move to higher cost cards and the additional assessments merchants will pay for accepting Apple Pay there is the issue of liability. With an EMV transaction the liability shifts to the issuer, will it be the same for Apple Pay? I can foresee the gut check when the first person shows up to tap their phone for their $20K rolex purchase!
I can see Apple's desire to make things simple and the issuer's desire to build their profits colliding with the merchant desire to save a dollar.