“Apple has already made big changes to how we buy things, now that it’s possible to use Apple Pay to check out with a flick of the wrist or a press of a button,” Jef Porten writes for TidBITS. “Apple Pay alone is on track to process 10 billion transactions this year.”
“Apple’s recent announcement of the new Apple Card service, at first blush, may seem like just another added feature—now Apple Pay can have a line of credit,” Porten writes. “But it’s possible that this will impact the credit industry almost as profoundly as how Blockbuster Video was changed when Netflix started sending DVDs in red envelopes.”
“In fact, scratch the surface, and there’s quite a lot that’s stunning about these Apple Card policies. What appears to be a few user-friendly features could have massive ramifications,” Porten writes. “Just as the iPhone blew away every mobile phone with a keyboard, I believe that the Apple Card could mark a similar turning point for consumer finance. First for what customers expect from their financial service providers, second for government action driven by those changes, and finally for the corporations themselves. The more people who use Apple Card, the faster these changes could occur.”
Much more in the full article – highly recommended – here.
MacDailyNews Take: Yup.
SEE ALSO:
Apple Card’s fine print – March 28, 2019
Millions of dollars are being lost to Apple Pay fraud – Apple Card to the rescue! – March 27, 2019
Apple just revolutionized another industry with Apple Card – March 26, 2019
Introducing Apple Card, a new kind of credit card created by Apple – March 25, 2019
backed by Goldman Sachs. no thanks.
Remember… iPhone was exclusive to AT&T… then we know what happened… everything starts one step at a time.
I was surprised that Apple would embrace the dreadfully bad citizen, Goldman Sachs.
Who would you recommend that Apple partner with?
If Timmy hadn’t wasted billions buying back AAPL, the Apple wouldn’t need to partner with a thievery outfit in order to extend credit to consumers.
The question i have is why Apple thinks anyone wants to carry around a titanium card. Affluent iPhone owners already have loaded their existing cards into Apple Wallets. So they are already secure.
What is the selling feature of this card?
Charles Schwab, for one.
Goldman Sachs was the top obama contributor and have given to the Obama Foundation.
All the more reason to get one.
Reason enough not to get one and let’s not forgot the ties to the Clintons. Now Cook is tied in with the political circle jerk, as well..
and have you seen how many of the goldman goons are now in the Drumph white house? I don’t think that swamp will ever be clean!
Goeb, you are such an ill informed jerk.
Your hero selected this self serving dipshit to be secretary of the treasury:
https://en.m.wikipedia.org/wiki/Steven_Mnuchin
ergo, your axe to grind against the clintons is comparatively insignificant
The speculative paragraph beginning “Here is where Apple gets to exercise its power in an interesting way:” detracts from an otherwise cogent article.