Great piece of insight here.. We know that Apple gets 0.15 percent of the transaction amount, but they also get a half-penny for every debit transaction and Issuers must make available for Apple Pay at least 95 percent of the cards in their portfolios. These fees come on top of various fees issuers will also pay Visa and MasterCard to tokenize their cards for Apple Pay to mask the cards’ actual account numbers. For instance, MasterCard is charging 50 cents to provision each token, while Visa’s fee is 7 cents, sources say.
the 500 or so financial institutions that have enlisted in the program so far are also signing up for a list of obligations and fees that could hand an unusual measure of power over to both Apple and the card networks. For example, besides agreeing to share with Apple a portion of their interchange income on the cards they provision for Apple Pay, issuers also are committing to make available to the wallet at least 95% of their network-branded cards. Issuers must also be ready to submit a twice-yearly accounting to Apple to verify the fees it owes the company, and if Apple isn’t satisfied with the issuer’s bookkeeping it may subject the issuer to an audit. The issuer must also submit “frequent reports” to Apple giving its cards’ Apple Pay transaction statistics.