The reality is, Apple Pay is no more than a "mobile" interface to the MasterCard, Visa and Amex payments systems; that’s all it is, for which—incomprehensibly—the banks are paying Apple an 0.15% fee. In reality, Apple Pay offers neither payers nor payees anything of value that I can see; certainly the merchants of the “ever whining” CMX consortium are getting no benefit from Apple Pay; methinks all the hot air surrounding Apple Pay will eventually cool ...

Still, I am interested in understanding how Apple is going to get its 0.15% transaction valuation fee out of a “debit” card transaction that supposedly carries only a US $0.22 fee …

Retail Payments—The Reality ... http://bit.ly/1nSA1Zl