Apple Pay Issuer Agreement

If Apple insists on its reduction in Apple Pay transactions, it`s not a joke. Based on the details of a copy of the contract that has been leaked, Apple may request a written certificate attesting that the amounts are correct and, if they dispute it, they may call in an auditor. If this examiner demonstrates an underpayment greater than 5%, the issuer must pay for this examination. If more transmitters connect (inside AP), fraudsters will be the first to queue. They will catch up with the BINs that work and those that don`t. And as long as issuers resort to measures easily evaded by freely available PII, this problem will continue to reduce trust and large sums of cash. And in addition to the latter, there are also a lot of reproaches. You can find a list of cards that can be used for Apple Pay under americanexpress.com/applepayfaqs. We will have to wait and see how the above-mentioned DG COMP study develops. The agreement provides that certain types of card issuers may be excluded from this calculation, including purely bank automatic cards, gift cards, health savings cards and commercial cards.

Apple announced during its WWDC 2016 keynote on June 13, 2016, that Apple Pay would open three new markets; France, Hong Kong and Switzerland entered into partnerships with Visa, Mastercard and American Express in the following months. . . .