Definition
Apple Pay is Apple’s NFC-based mobile wallet for contactless payments on iPhone, iPad, and Apple Watch. Apple charges card issuers 0.15% on credit and $0.005 on debit transactions.
Key Points
- 2026-09-30: Launched in India with axis-bank as first issuer — Visa/Mastercard credit cards only; RuPay excluded; HDFC/ICICI/SBI absent at launch (2026-09-30-apple-pay-india-launch, apple-pay-india-launch)
- 2026-09-23: Federal judge certified nationwide class-action antitrust lawsuit by banks/credit unions — up to ~$1B annual fees alleged (2026-09-26-banks-apple-pay-antitrust-lawsuit)
- iOS 18.1 opened NFC to third-party apps but doesn’t resolve past fee claims
- Android wallets do not charge issuer transaction fees