Apple Pay costs: useful information

Virtual payment services are becoming an increasingly popular alternative to paying with cash or a card. However, users are often unsure whether this does not result in hidden fees. Find out here if and what costs are incurred with Apple Pay.

What costs are incurred with Apple Pay?

First of all, the good news: Apple Pay itself provides its payment service at no additional cost. So you can basically use the application for free for payments. However, this does not mean that paying with Apple Pay is always completely free. In fact, there are often indirect fees that are primarily charged by participating banks.One example: The checking account of ING Bank, one of the largest partners of Apple Pay, was free until the beginning of 2020. Now, a regular minimum amount must be received in the account or monthly account maintenance fees will apply. These can be considered indirect costs of Apple Pay.

What is the composition of other indirect costs with Apple Pay?

When paying with Apple Pay, any fees incurred are paid by the merchant, just as with a credit card. However, this often leads to the fact that merchants include these costs and simply increase their prices a little. Thus, although officially the merchant pays the fees incurred, but actually rolls these back to the customers.