Quote:
Originally Posted by taustin
Once they got the double billing issue resolved, and you don't mind Apple tracking your purchasing habits, and the inevitable small price increases to cover the additional expense, etc, I suppose. And assuming Apple doesn't get hacked, too.
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Apple doesn't track your purchasing habits. Apple doesn't know what you bought.
Apple doesn't charge the merchant anything to use Apple pay. The bank pays .15% of the transaction to Apple for Apple pay. This the difference between a card-not-present and card-present transaction - basically, the bank is accepting the card-present fee for use of Apple Pay, even though it is technically a card-not-present transaction.
It doesn't matter if Apple gets hacked. Apple doesn't have your credit card number. Nor is it shared with the merchant, which is why it's more secure.