Comment by miki123211

Google Pay and Apple Pay are basically nicer UIs for your Visa / Mastercard, with some extra privacy protections on top (E.G. they use disposable credit card numbers that merchants can't use to correlate your transactions at different stores).

They offer similar possibilities to what Visa and Mastercard offer, including changing your transaction amount post-factum (E.G. Uber everywhere, restaurants in the US for the weird way Americans do tip processing, some hotels for the minibar / phone / TV bill) and recurring charges.

They're not the same thing as in-app purchases, which are for digital content only, which Apple and Google charge much higher commissions on, and which have a much more pleasant cancellation / management UI. With IAP, Google / Apple is the merchant from your bank's perspective, this is not the case with Apple / Google Pay.