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When Apple Pay launched, the tech giant got big banks including JPMorgan, Capital One, and Bank of America to agree to pay fees that would allow their cardholders to pay by iPhone. Now, some banks are pushing back, nudging card network Visa to change the way it processes certain Apple Pay transactions. The change would trim the fees that banks pay to Apple.
“Our bank partners continue to see the benefits of providing Apple Pay and invest in new ways to implement and promote Apple Pay to their customers for secure and private in-store and online purchases,” the company said.
https://www.wsj.com/articles/apple-pay-fees-vex-credit-card-issuers-11633449317
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