MarketWatch

12 September 2014

Apple is taking on some of the risk usually shouldered by the banks for its new payment system, Apple Pay, Kurt Salmon tells MarketWatch. That’s just one of the incentives for the partnership. Banks will still receive an average of two cents on the dollar on transactions, while Apple helps relieve some of the fraud risk from retailers and banks, as testament to the company’s confidence in the system’s security.

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