• Let's Talk Payments, Wednesday, November 5, 2014 12:47 PM

An equity analyst has managed to get his hands on a copy of Apple’s ‘commercial agreement’ with credit card companies and issuing banks. The commercial agreement had been kept secret since Apple Pay’s launch. Sanjay Sakhrani, an analyst from Keefe, Bruyette & Woods, recently published some main points from the agreement. In the revelation, he mentioned the fees Apple is collecting for Apple Pay payments. As per his analysis of the term sheet, Apple receives 15 basis points or 0.15% on each credit card transaction and half a cent on each debit card transaction. The process involves credit card networks collecting Apple’s transaction fees from the card-issuing banks and later transferring the aggregate to Apple.

Read the whole story at Let's Talk Payments »