Re: Where do Apple fit in?
I'm not sure Apple is accepting any liability, do you have a source?
Apple worked very closely with the banks to develop the secure element, with the understanding it would be the banks' IP, and I've heard the banks will eventually require its inclusion in any phone allowed to make EMV payments. So don't be surprised to see it included in Android phones next year (though it may be called something different) Maybe the 0.15% was quid pro quo for that help, or the licensing of patents that were used in its development. Presumably the banks believed Apple's help would push EMV adoption, which is something that will reduce the banks' costs.
Anyway, it comes down the fact that Apple gets 0.15% because that's what the banks were willing to give them.
Biting the hand that feeds IT
