How does Apple make money on Apple pay?

Apple is reportedly collecting a credit card transactional fee from financial institutions, in addition to (a) existing “interchange fees” (although in various countries the Apple fee may be taken off the normal interchange fee), and (b) the new fees charged by credit card networks to tokenise card data for secure …

Does Apple make money from in app purchases?

App stores Apple App Store: 30 percent standard commission on apps and in-app purchases of digital goods and services; sales of physical products are exempt. Subscription commission falls to 15 percent after one year.

Who pays the fee for Apple Pay?

Banks agreed to pay Apple 0.15\% of each purchase made by their credit cardholders. (They pay a separate fee on debit-card transactions.) Those fees account for most of the revenue that Apple makes from its digital wallet, according to people familiar with the matter.

How does Apple Pay work?

Apple Pay is simple to set up. Just add your credit or debit card to the Wallet app on your iPhone and you’re ready to go. Use Apple Cash with Apple Pay. Apple Pay powers Apple Cash, which works a lot like a debit card and lets you send and receive money right in Messages.

What is Apple in-app purchase?

An in-app purchase is any additional purchase made within an app, like extra lives in a game. You can turn in-app purchases on or off on Apple and Android devices with just a few taps.

How does App Store make money?

The apps that make the most money on the App Store are usually games, which aren’t subscription-based, but monetize through in-app purchases, which are billed by Apple at 30\%. Starting this year, Apple is charging smaller developers who make less than $1 million per year on Apple’s platforms 15\%, instead of 30\%.

How much does Apple make from online sales?

First-party e-commerce net sales share in total revenues of Apple, Inc. (in billion US-Dollar)