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Looks like Apple's commission is ~15-25 BPS for participating banks (from those banks): "The biggest “surprise” over last 2 months is that Apple has squeeze
by arfrank 12y ago
Looks like Apple's commission is ~15-25 BPS for participating banks (from those banks):
"The biggest “surprise” over last 2 months is that Apple has squeezed 15-25bps from the 5-6 participating banks at launch (C, BAC, COF, JPM, Amex and perhaps WFC)."
http://blog.starpointllp.com/blog/?p=3855 http://blog.starpointllp.com/blog/?p=3855
- PanMan 12y agoBPS?
- e1g 12y agoIn finance, 1 BPS is 1/100th of a percent. So Apple could be pocketing ~0.2% on all transactions. The US does about $12B in card transactions per day. This means that for every 1% of US transactions it captures, Apple could add ~$80M to the annual revenue which is a very small amount against its $140B revenue. Yes there are international markets, but still this is not done for profits by itself.
- arstudio 12y agoDefinition of 'Basis Point - BPS' A unit that is equal to 1/100th of 1%
- gtremper 12y agoBasis points, or 1/100th of a percent http://en.wikipedia.org/wiki/Basis_point http://en.wikipedia.org/wiki/Basis_point