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Title: Report: Apple negotiated lower card transaction fees for mobile payments Post by: HCK on September 04, 2014, 09:00:32 pm Report: Apple negotiated lower card transaction fees for mobile payments
Apple has successfully negotiated lower card transaction fees for its upcoming mobile payment system, according to Bank Innovation. The Cupertino company has reportedly reached deals with American Express, JP Morgan Chase, Citigroup, Capital One, and Bank of America. Apparently, Apple has convinced the financial institutions to consider the mobile payments as “card present” transactions, and has settled on a reduced “card present”… Source: Report: Apple negotiated lower card transaction fees for mobile payments (http://www.ilounge.com/index.php/news/comments/report-apple-negotiated-lower-card-transaction-fees-for-mobile-payments) |