Merchant Innovation

Apple Will Look To Banks Instead Of Merchants For Fees

Apple has confirmed that it will not be looking to merchants, who it still needs to get onboard, to pick up the tab for use fees.

Although everyone is expecting Apple Pay to be a revenue generator for the company, the method by which it will be making those funds might surprise.

In a FAQ page on Apple's website, the company specifies that Apple Pay fees will not be charged to "users, merchants, or developers."

With those groups out of the picture,  the one party left in the equation to pay fees for being the intermediary in a transaction is the credit-card issuing banks.

Bloomberg has reported that Apple will indeed collect a fee for each transaction through Apple Pay from such banks. The size of the fee and whether it will change based on the transaction amount is  still unknown.

 

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