In reply to Bob.

The banks' margins remain what they were except for the cost of the fixed 0.15% of the transaction value that the banks have agreed to pay Apple. But, indeed, if the banks spent as much effort marketing their own online/mobile digital wallets, "MasterPass" and "Visa Checkout", as they have spent fawning over Apple Pay, they could have offered that 0.15% as an additional discount to the hostile, very large merchants of the MCX consortium (who are most likely already paying only ~0.5% discount fee) …