How Does Apple Pay Make Money?

Apple Pay is a contactless payment technology that allows users to pay for goods and services with their iPhone, iPad, and Apple Watch.

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The technology was first unveiled during the company’s iPhone 6 keynote event on September 9th, 2014.

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Reportedly, the banks that Apple worked with were using a code name to keep the project a secret while most of their employees were kept in the dark.

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Today, Apple Pay is available in more than 70 countries while facilitating billions of dollars in payment volume every year.

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Apple has since introduced ancillary payment services including a credit card as well as Buy Now, Pay Later options.

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But how does Apple Pay, which is completely free to use, actually make money?

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Payment Fees

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Instant Transfers

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Swipe up to read the full story

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