Apple is in talks with various financial institutions to bring Apple Pay to Israel. According to the Hebrew book Calcalist the Apple representatives have started the cycle of meetings negotiating Apple Pay agreements with various companies, both banks and credit card providers.
Expansion of Contacts and Apple Pay
The fact that most businesses are Israel has recently adopted Visa, MasterCard and EuroPay technology for payment cards
As has happened in some cases (for example Australia) commissions requested by Apple is the point at which negotiations begin. According to a Israeli media report:
Recently, Israeli financial intermediaries have teamed up with Apple representatives to reach bilateral agreements, but some participants were surprised to find that Apple demanded the highest price, estimated between 0.15% and 0.25% of any transactions made with Apple Pay . This is between three and three quarters of the credit card provider's earnings (made by a credit card company).
"It's unique and creates a tension of its own nature and power," said a source close to the discussions between these groups.
The banking industry is focusing on commissions and the fact that Apple is charging these commissions at different banks that support Apple Pay has been a topic of discussion before. In Germany has just passed a law
At that time, card users issued by Israeli institutions will soon have access to one of the safest and most advanced security systems today.
Source | Macrumors
