Looks like Apple's commission is ~15-25 BPS for participating banks
The biggest “surprise” over last 2 months is that Apple has squeezed 15-25bps from the 5-6 participating banks at launch (C, BAC, COF, JPM, Amex and perhaps WFC).
I am confused by this as well. I thought apple did not allow people to make credit card purchases within an app, am I wrong or will these rules change? Where is the line drawn for using an IAP vs Apple Pay (where I presume Apple takes no cut)
I think traditionally Apple has disallowed IAP for real-world goods. I'm assuming Apple Pay will be for those real-world goods while IAP is still used for digital goods.