Earlier quoted context omitted.
That's very disingenuous. Amazon, PayPal and Google rely on selling your data and selling you products based on your data to make money. Visa, Mastercard and Amex mostly rely on transaction processing fees, and make extra money on the data processing in a very limited way. What Apple are doing is removing the middleman, purely making this about transactions, not data. This means they're avoiding selling private infor…
It's not that I don't care about this; it's that Apple is doing this cynically and for short term gain, not for substantial benefit. If they care about this as more than a marketing ploy, they would have set up an organization to set policies and to verify adherence. That would have been awesome. "blah blah blah, and we don't store your financial information or transaction history. That's easy to say, but the pendulu…
De-facto useless organizations like your FISO example with not enough players on board to start with are just lip service. Essentially you're arguing that Apple should be doing the governments job...