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Wallet Database

Apple Pay

21st of August 2016


  • Summary: Apple Pay is a cards-based digital wallet for online and NFC contactless purchases operating in multiple markets and launched in Oct 2014. Apple Pay has been developed by Apple and facilitates in-app and NFC contactless payments with the iPhone, Apple Watch, iPad and Mac.

  • Website:

  • Status: Live

  • Market: US (Oct ’14), UK (July ’15), Canada (November ’15), China (February ’16), Australia (May ’16), Singapore (Apr ’16), Switzerland (Jul ’16), France (Jul ’16), Hong Kong (Jul ’16), Russia (Oct ’16), New Zealand (Oct ’16), Japan (Oct ’16), Spain (Dec ’16)

  • Type: Other

  • OwnershipApple

  • Functions: Retail payments only

  • Payment Mode: Cards based

  • Channel: POS via NFC, In-App and WEB

  • Roadmap: n/a

User Experience

  • Registration & set up: Users must have a supported bank card in a supported country.  Users go to Wallet in “Settings” to add a card, the card details can be entered manually or automatically through a photo.  Up to 8 cards can be added to any device.

  • Making a payment: NFC payment initiated by bringing the iPhone within an inch of a contactless reader. Touch ID is used to authenticate the user.  No upper spending limit for users of Apple Pay but terminals must be specifically configured else domestic transaction limit will apply (e.g. £30 in the UK) 

Payment Flows & Technology

  • Merchant perspective: The merchant processes a payment using their existing payments processing systems.  For customer-present / proximity transactions, customers are not required to enter a PIN when using Apple Pay. The liability for the merchant is the same as with any other card present transaction due to an agreement Apple Pay entered with the schemes and issuing banks in the US, which has translated in Europe as well

  • Security: Additionally, Apple Pay is considered more secure because rather than storing credit card details, a unique Device Account Number is assigned, encrypted and saved in the Secure Element chip in the iPhone, iPad and/or Apple Watch. When making a purchase, the Device Account Number is used in conjunction with a transaction-specific code, so sensitive card data (actual PAN) are not revealed

Business Model

  • Strategy: Apple shares interchange with card issuers for each Apple Pay transaction. The basis points received by Apple vary depending on the market (e.g. lower in the UK due to the EU interchange caps).

  • Payee fee: Standard acceptance rates apply. No additional charge for merchant.

  • Payer fee: No charge for consumer 

Performance Data

Contact (MobeyForum Members only)

  • Name: N/A

  • Address: N/A

  • Email: N/A

  • Phone: N/A