Chinese Banks to Pay Much Smaller Fees to Apple Pay than U.S. Counterparts

(Beijing) – Apple Inc. will earn fees from Chinese banks when customers use its mobile payment service for purchases, but they will be about half of what the U.S. tech giant charges in the United States, people with knowledge of the matter say.

Apple Pay, which allows iPhone users to make mobile payments by waving their phones at store checkout readers, arrived in China on February 18.