Do you understand the whole payment industry? the roles Issuer...

Do you understand the whole payment industry? the roles Issuer bank, Acquirer bank and the Payment Gateway play?
Google it, try to understand and you'll revert your statement that retailers already accepting Mastercard will accept Apple card.

They are two totally different things.

The cash back of 2% you provide to user, has to come from somewhere...after paying the payment gateway and the acquirer bank. Do you think apple or Mastercard will pay form their pockets?

By the way, do you know why AfterPay bought Touch corp sometime back? do you what Touchcorp does and how it added value to the AfterPay business?

anyways...