Contract Management

Hello --- new member here & my first post.

For those of you that utilize the Apple Pay service -

Do you have it set up as its own vendor or as a product under the Visa (or MC I suppose) vendor?  Ours was negotiated via our Visa rep, but it seems as if it is really a 4th party service to Visa.  At the same time, our contract is not really with Apple, so....

I don't recall another situation like this with any other vendor.  I am trying to figure out the best way to set it up. 

Hi there,

If you do not have a direct contract with Apple Pay, and it was arranged through your Visa rep, then they should be considered a 4^th party to Visa. Your third parties are those with whom you directly contract, in this case, Visa. Make sure you are reviewing Visa's third-party risk management practices and ask for evidence of risk assessments, due diligence, risks and performance monitoring and issue management.  Also, it is important to understand if Visa considers Apple Pay to be a critical third party.

I hope that helps, but I would love to hear from other members.