Prepaid card provider Green Dot "will perform several roles" for Apple when the iPhone maker launches its P2P payments and Apple Pay Cash services in the US in September, Green Dot CEO Steven Streit has revealed during the company's recent Q2 2017 earnings call, reports NFC World. "At a high level, the business model is that, as the issuing bank for the Apple Pay Cash account, Green Dot generates interchange revenue when customers use Apple Pay Cash to spend the fund," Streit said. US financial institutions both substantially increased issuance of chip debit cards in 2016 and experienced reduced fraud losses, the annual Debit Issuer Study from debit and ATM network Pulse has found. NFC World reports that Apple Pay, Android Pay and Samsung Pay together account for only about one quarter of one per cent of US debit transactions, while the country's move to EMV chip cards has cut debit card fraud loss rates but "fraud continues to challenge issuers." In all, three in four issuers now provide cardholders with the ability to add their debit card to at least one mobile wallet but "despite this momentum, usage of debit cards in mobile wallets remains low," Pulse reported.