Since the introduction of Apple Pay in 2014 in the US, issuers have had to share their credit and debit card customers with iPhone manufacturer Apple when card payments occur at merchants. Apple receives a portion of the interchange revenue that merchants pay. Apple Pay moved into Europe in 2016. And as the number of merchant acceptance locations equipped with NFC-enabled POS terminals has grown, Apple Pay contactless chip payments have increased in step. In some markets in Europe, up to 50% of in-store payments made by iPhone customers are now initiated via Apple Pay. A 2024 regulatory ...