What is the Apple Wallet tap limit?
What is the Apple Wallet tap limit? Apple Pay transaction under $100 can be made by holding the device up to the contactless reader and authorizing payment using Touch ID, the device passcode or double-clicking the side button on Apple Watch. For transaction over $100 you might be asked to enter your card PIN in to the retailer's terminal.
Is Apple Pay reported to IRS?
Regular users of P2P payment platforms will receive a 1099-K which must be reported to the IRS. It is important to note, even if the P2P does not issue the 1099-K you must still report for income tax purposes all transactions for goods and services over the $600 threshold as income.
Does Apple Pay charge a fee?
Apple does not charge any fees when you pay with Apple Pay — in stores, online, or in apps.