Retailers may get less than using their own app, but I agree I don’t really see how it affects the processors or the banks.

However Apple is providing something in all this. Apple Pay requires biometrics which (in theory) should help lower fraud costs for everyone. So it’s not like they’re just rent seeking for nothing.

I don’t know how it went for everyone else, but I don’t remember tapped pay getting popular until after Apple Pay and Apple pushing it. I know that coincided with when EMV terminals really started to get popular because the credit card companies were forcing it. But I honestly wonder if they helped push it to the mainstream, even for people just using tap cards.