Re: Wall Street is reporting problems for Google?
Apple's tokenization is an implementation of the EMV standard. Visa didn't "mimic" what Apple developed, Apple was simply able to implement it on their own before Visa was able to set up a way to support others trying to implement the EMV standard.
When Apple's deals with the banks that give them the 0.15% expire they may not be able to collect any more. But I think they will be able to keep collecting it - if they have stats that show fraud on iOS devices is less than fraud with traditional cards, due to the fingerprint reader or reduced ability to steal iPhones (due to Activation Lock) than stealing someone's wallet containing EMV compliant cards.