Is Apple Pay a lemon?

Australian banks are yet to link their debit or credit cards to Apple Pay because they are not prepared to pay the fees Apple is charging card issuers overseas.

Apple Pay is reported to have around 1000 banks and payment card issuers worldwide signed up.

However reports indicate that take-up of the Apple Pay service has been low. US researcher Aite Group said Apple Pay accounted for one per cent of retail payments in the United States.

Source: Banking Day