Originally Posted by
stimpy
Funny, but not technically accurate. The client side code that runs Wallet and Apple Pay executes on the iPhone, as does the GPS location info that can note and timestamp your location when you make the transaction. So they do have access to all the necessary information. Again, it is your choice to believe that they do not, nor will not in the future make hay with your data.
What runs on the phone is local to the device and not accessible by Apple nor is it kept on Apple's servers.
More detailed information is in Apple's security white paper.