How are they actually doing it? I mean debit card have lower transaction cost than credit card. But still, there is a transaction cost. Is Apple just subsidizing the feature to keep the user sticky in the ecosystem? Or what do I miss here? Thx!
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Julian, great questions. Once debit card based funds are loaded on to an Apple Pay Cash card, any full or fractions of money sent is “on us” and free of any fees. Eg: load $20 and pay out pennies to publishers at a time with no transaction fees.
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This is where I think the gold mine is. Completely unexplored business models and use cases are now financially possible to do
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Lester, indeed. So many of these.
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By 2019 Apple Pay Cash will be the dominant way to send cash and pay small merchants on iOS and Android platforms.