From the article:
Quote:
Apple’s strategy is the opposite. It partnered with the major banks and credit card companies -- Visa Inc., MasterCard Inc. and American Express Co. -- that Apple says account for more than 80 percent of U.S. credit-card purchases, allowing the iPhone maker to piggyback on their checkout systems. Apple will also collect fees from the card issuers, according to three people familiar with the deals who weren’t authorized to discuss them.
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So who's going to absorb this extra fee -- credit card companies? merchants? customers?