Apple Pay - page 21

Apple might be a hardware first company which creates software only to drive sales of its physical devices, but that doesn’t mean it can’t earn a bit of money from its services, right?

According to a new Bloomberg report, Apple will earn a fee every time its newly-announced Apple Pay service is used to make a purchase.

The deals were reportedly brokered by Apple with each bank individually and will give Apple a sizeable share of the $40 billion generated by banks each year from so-called swipe fees for credit card payments. JPMorgan, Bank of America and Citigroup have not yet disclosed the terms of the deal.

Apple finally showed the world today what the media has been calling an “iWatch” for months. Apple Watch is the first new product category to come out of the company since the original iPad.
It marks a “new era” for Apple, according to CEO Tim Cook, and introducing the Apple Watch was even deemed worthy of a “One more thing” tease (as made famous by Apple co-founder Steve Jobs).
There’s a lot to digest about Apple’s first wearable, so we’ve made it easy for you. Here are the 10 most important things you need to know about the Apple Watch.

That like-new iPhone 5s in your pocket? Obsolete. How about that smartwatch or fitness band you’ve been carting around on your wrist for the past six months? Old news. If you whip out your leather wallet and try to pay with a rectangle of plastic — at least at the corporate stores Apple works with — chances are you’ll be looked at like an old fogey.

Apple has, once again, thoroughly owned the mobile category, expanding the ways we communicate, live and transact business in our daily lives.

This domination of the smartphone, smartwatch and mobile payment categories, as revealed in today’s big iPhone 6 and Apple Watch event, has us ready to hand over another load of cash to the Apple mothership, and gladly. As usual, there were some surprises — some awesome and some not so much — but here are the main takeaways.

The new iPhone 6 and iPhone 6 Plus have bigger screens, badder cameras and you can use them in place of your wallet.

Apple just took the wraps off Apple Pay, its much-rumored mobile payments service. CEO Tim Cook is so excited about it that he looped the demo over and over during the keynote. It’s being touted as an “easy, secure and private” way to get your caffe latte on the run.

One thing’s for sure: this is a massive shift in the payments industry.