Negotiations to Launch Apple Pay Taking Place in Israel

Apple Pay logo

Apple has begun talks with Israeli banks and credit companies in Israel, as it works to bring Apple Pay to the country. However, the commission fee could cause a problem.

Israeli financial institutions were not keen on Apple’s commission fee, which falls somewhere between 0.15% and 0.25% of each transaction. This works out to roughly one quarter to one-third of the credit card issuer’s revenue from the transaction, a hefty cut from an already relatively small fee. “It is disproportionate, and constitutes an exploitation of its status and power,” says a source familiar with the situation. While this may slow down talks, it should not be seen as definitive in any way.

Check It Out: Negotiations to Launch Apple Pay Taking Place in Israel

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