Visa has longed viewed Apple Pay as an “existential threat” to its payments business. So, the company has been paying Apple “hundreds of millions of dollars” a year so the iPhone maker doesn’t deploy competing functionality.

Visa has longed viewed Apple Pay as an “existential threat” to its payments business.

So, the company has been paying Apple “hundreds of millions of dollars” a year so the iPhone maker doesn’t deploy competing functionality.

Similar to how Google is paying Apple $20B a year to… pic.twitter.com/sutBztfFSk

— Trung Phan (@TrungTPhan) September 27, 2024