Apple Pay to start working with Visa cards in Russia in December
Apple Pay payment system will start working with Visa bank cards in the Russian market in December, a source close to the talks between Apple and Russian representatives of banks and payment systems told TASS on Oct. 10.
"It is planned to launch Apple Pay for Visa cards starting from Dec. 1," the source said, adding that the talks are in progress and the date might be changed later.
On Nov. 4 other banks will join Apple Pay, the source told TASS. Currently, the payment system works only with MasterCard payment cards through Sberbank.
According to Apple conditions, banks that will be connected to the system are required to run the advertisement of the service, and the sum the banks need to spend on advertising Pay Apple is discussed individually with each bank, the source told TASS.
In addition, Apple receives commission, which is given to the corporation for each transaction, as well as for every bank card connected to the system.
On Oct. 4, Sberbank and MasterCard launched Apple Pay system on the Russian market.
Apple Pay works with iPhone SE, iPhone 6 and later, and Apple Watch. The payment system allows purchases using NFC (Near Field Communication) technology on smartphones, which can be used for payment in actual stores by holding an iPhone near the reader or within apps.