[ENGNR]

When you use Apple Pay, Apple has agreements with the issuing banks for those cards and they get a % of every transaction you make.

Having to give up monopoly control over NFC API means the banking apps will probably offer tap to pay directly instead, so Apple will lose some profit.

I do think in the long term, this will mean lower merchant fees for customers, as Apple will lose leverage and probably have to reduce instead of continually increase the % they demand from banks.