NFC TIMES Exclusive – TAIPEI, Taiwan: Apple will collect a cut of transaction fees from Taiwanese banks on credit card transactions that is around the same level as the tech giant takes from U.S. credit card issuers, when Apple Pay launches in Taiwan, expected later this month, NFC Times has learned.
An article this week in the Taiwanese press incorrectly quoted a fee amount that Apple would purportedly take as a cut of each Apple Pay credit card transaction, and erroneously stated that Apple’s fee in Taiwan would be the highest of any market Apple Pay had launched in, now at 13 countries.
In fact, the fee would be around 15 basis points, or around .15% of the amount of each credit card transaction, a banker from one of Taiwan’s major banks told NFC Times. Apple charges banks 15 basis points on Apple Pay credit card transactions in the U.S., an amount that has been confirmed and widely reported, though Apple does not officially acknowledge it.
