to be interesting to watch them reconsider the value proposition for the end-users. >> could take raintreeipe out of the equation in any way? >> the design of apple pay today is carefully crafted so it enables apple to provide the user experience they want or their users while still maintaining all of the other properties required any other parts of the ecosystem. these companies are selling in multiple countries, on different kinds of devices, in different channels. these companies need to have a commerce infrastructure they build on top of. it would be an enormous undertaking for apple to build all of that themselves. it's a more obvious strategy to work with the most successful commerce. forms. it would be an entirely different is this model -- it would be akin to apple deciding we should build aws just because apps want to have a backend for the things that run the phone. >> visa earlier said apple is not getting any cuts or what they taken the transaction. is apple getting anything from what you get any transaction? >> we cannot comment on the economics, but there will be no charge fo

we work with so many of the best or fastest growing apps or whatever, i don't know what ebay or raintree'slans might be, but there's an interesting strategic misalignment at a macro level etween paypal and apple. paypal's strategy is fundamentally predicated on owning the consumer relationship. paypal is a wallet system designed in the 90's. the fundamental idea behind the product is you should not need a wallet or need to go somewhere else. you should be able to authenticate with your fingerprint and the transaction is done. i think it's going to be interesting to watch that play out. it is going to require that by a and paypal -- it's going to be interesting to watch them reconsider the value proposition for the end-users. >> could take raintree and stripe out of the equation in any way? >> the design of apple pay today is carefully crafted so it enables apple to provide the user experience they want or their users while still maintaining all of the other properties required any other parts of the ecosystem. these companies are selling in multiple countries, on different kinds of devices

raintree says they will support apple pie so how is that different from what you have set up with themleworks with a fairly small list of partners. it's available on their website. there are some large payment processors owned by banks and because we work with so many of the fastest-growing apps, i don't know about ebay or braintree or what their plan may be but there is an interesting strategic misalignment at a macro level between paypal and apple. the paypal strategy is fundamentally predicated on owning the consumer relationship. paypal is a wallace system designed in the 1990's. idea pay, the fundamental is that you should not need another wallace. you should -- another wallace --wqllet. --wallet. it will be interesting to watch that play out and it will require that ebay and paypal reconsider their value proposition. could apple take braintree and stripe out of the equation? >> the design of apple pay today is quite carefully crafted so it enables apple to provide the user experience they want for their users while still maintaining all the other properties required in the other

place where a lot of these guys who have been wasn't up start to look interesting again a built of a raintreeou can see on the chart, owning at these levels, have the consumption growth story in the region is something i would do. >> well, if you like this show, that's clearly yes, right? >> whoa. >> yes. >> how could you not? >> you're going to love the new cnbc app. go to the app store right now, download the new cnbc business and finance news app. you can see all of your favorite clips from "fast money." this is the app right now, this is on my phone and already, the top of the show, trading the fed, the paul hickey interview, that's already on here. you can actually create a play list of all the videos you want to watch from cnbc. stay your ascrolling through, see this video you watch, don't have time, put it on your play list, say i want to hear everything pete najarian has to same it wouldn't be guy adam mir, i will create my pete najarian play list and listen to pete later on in the evening. easy to use. i used it today on my ride in, able to watch live cnbc while i was driving in the