Revealed: Just how much Apple will make off of every Apple Pay transaction

Callum Tennent
September 15, 2014

One of the most exciting revelations at Apple’s big iPhone reveal was the announcement of Apple Pay. In fact, it may well have been the most exciting part. The iPhone has been missing NFC for far too long now, and Apple’s involvement in the contactless payment scene could be just what it needs to take off in the mainstream.

Almost every major credit and debit card provider is onboard, from Visa to Amex. Not only that, but several institutions have already pledged co-operation (in the USA at least) – institutions like McDonald’s and Starbucks.

You may have heard of them. You know, the single largest fast food and coffee chains in the world? Yeah, those guys will be accepting Apple’s exciting new wireless payment scheme.

As it happens, Apple will be taking a small slice of each payment made through there service. Wouldn’t it be nice to know exactly how much they make on that Double Cheeseburger/Pumpkin Spice Latte?

Well now we do – 0.0015% to be precise. That’s three twentieth’s of a percent per transaction. That may not sound a lot, but when you consider that McDonald’s alone makes $27.5bn (and rising) every year, you certainly wouldn’t turn up your nose at any percentage of that dough.

All it takes is for one customer in every thousand to pay for their McDonald’s meal via Apple Pay and Apple could take home $27m a year. Factor in all the other establishments which will inevitably pledge their allegiance to Apple’s scheme and you’ve got a pretty hefty cash-cow for the boys from Cupertino. In fact, this is the first deal of its kind to ever be struck between a wireless payment implementor and card provider.

In case you were unsure, it’s also important to note that this figure is of little to no consequence to the consumer. This 0.0015% will come out of the cost of the goods you’d be purchasing anyway – it’s the card companies who will shoulder the cost.


About the Author

Callum Tennent

International playboy/tech journalist.

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