Why are leading Indian banks holding back on Apple Pay?

HDFC Bank, SBI Card and ICICI Bank are not part of Apple Pay's initial India rollout over disagreements on revenue sharing, Moneycontrol reported. Apple has sought a commission of about 20 basis points, on transactions routed through its service, while large issuers were willing to offer 15 bps. Tight profit margins are another factor discouraging banks from joining the service.