Apple Shares Transaction Fee For China’s Apple Pay Users
Apple announces on its China based website that hey recently claim about 0.15 percent share per transaction in United States. The amount is equivalent to 0.07 percent shares in China.
Our sources points out that all American merchants who uses Apple pay charge up to 2 percent in fees for every card transaction, but for China, they have to pay 0.38 percent as the lowest charge, making extra 0.15 percent a burden.
The high fees believed to be the major resistance point in all negotiations last year. Apple announced a recent deal last December, and then launched its payment platform with accessible over 19 Chinese banks started last February 18 of this year, although not all bank partners are on the go.
Thursday’s sign-up situation was intense that quite a number of users ran into an error messages when they try to add individual cards.
Apple suggested on its announcement that China market could become the largest market for the company’s Apple Pay feature. As of now the service is limited to handful regions, United States, Australia, United Kingdom and Canada. Hong Kong Spain and Singapore will be the next target for the Apple Pay expansions.