The real value for Apple is in the underlying consumer and spending data. Apple already has a tremendous amount of consumer data via its phones and will gain the ability to pair that with consumer spending, according to Ali Raza, managing principal at Blue Leviathan.
The changing demands of consumers who are increasingly mobile, and the emergence of disruptive technology, are changing the payment model for financial institutions.
Apple Pay represents a new cost to the issuing community. The issuers accept this because there is little choice but to operate on Apple's terms, including paying a fee to support Apple Pay.