Article says Google wallet works just like Apple Pay, except they don’t charge a 0.15% fee.
replyDo you mean this part?
reply> It points to Google's Android, which supports multiple wallets and does not collect a fee from card issuers for contactless payments. It suggests Apple would not be able to continue to charge "substantial fees" if it were forced to support other mobile wallets on Apple devices.
This described supporting multiple wallets, which I don’t care about. I don’t want multiple wallets, I want one wallet.
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replyWhy shouldn’t Apple be able to make money for the service they created?
replyThe phone holds on to a credit card number and some extra information. What service is happening here? Is Apple doing something meaningful every payment?
replyThe phone doesn't store your card number. Apple brokers a token at setup, secures it on-device, and manages it afterward (suspend, re-issue).
replySo it doesn't generate a second card number like other things I've used?
replyBut anyway it sounds like the answer to my question is no, Apple is not doing anything meaningful per payment. They play a role in setting up a card and that's it. Is that accurate?
When you add a card, your bank creates a device-specific Device Account Number, encrypts it, and sends it to Apple w/ a key used to generate a unique sec code for each transaction.
replyAnd is that information stored on the phone? Do Apple's servers need to be running for me to make a purchase?
replyA service for whom? It has already been paid for by the users when they bought the iPhone.
replyUsers aren’t paying the fee though
replyOf course they are, passed on as increased prices for everyone, which is exactly the problem. Sure the banks here would like these fees gone, but it also hurts society in general.
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