Apple hasn't said much about how it plans to make money from Apple Pay transactions, but it's safe to say that credit card companies would be the ones covering any fees. Card companies might factor in those costs in the regular fees that consumers and merchants pay. However, those companies might be able to use savings from fraud reduction to cover any Apple Pay costs.

Eric Risberg/AP
A cash register terminal promotes usage of the new Apple Pay mobile payment system at a Whole Foods store in Cupertino, Calif. on Oct. 17.