Apple can made big bucks with Apple pay

As we have mentioned in our previous blog of Apple about if the new product and services announcement such as the new IPhone 6, I watch and Apple Pay will drive up the stock price of Apple in the new time all high.

In our blog we mentioned that Apple Pay was really interesting. Since 12 September 2014 we know now how much Apple is charging the banks.

Apple earn 0.15% of each transaction that is made with Apple Pay

Yesterday evening we had received the news that Apple had made agreement with the banks and credit card companies that they will 0.15% commission of each transaction value that been made through Apple Pay.

One of the thing that Tim Cook has mention during the Apple Keynote 2014 in Cupertino was this: There is an average of transaction value of 12 billions dollar a day, that’s 4 trillion dollars a year. 

Let say the Apple Pay is going to be a huge success.

A huge number of store partners

According to the website iphonehacks.com (source) Apple will soon have more then 220.000 store partners that will use the Apple Pay system. And Apple also has around 800 million ITunes accounts that are linked with credit cards. So there is a huge chance that consumers adapt Apple Pay in their normal life. Which means that Apple Pay has the potential to become a regular habit for consumers to use Apple Pay for their payments.

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