Apple Card completely rethinks everything about the credit card. It represents all the things Apple stands for. Like simplicity, transparency, and privacy. It builds on the incredible ease and security that millions of people love about Apple Pay. And it’s the first card that actually encourages you to pay less interest. Whether you buy things with Apple Pay or with the laser‑etched titanium card, Apple Card can do things no other credit card can do.
Apple Pay, Apple Pay Cash, Apple Card and Wallet are hugely disruptive solutions that show how Apple could threaten the retail banking sector – or, help it to thrive (for a fee).
“We’re not interested in being a bank… particularly the regulated part of that.” — Apple’s VP Internet Services, Jennifer Bailey
Think about that.
This statement speaks volumes to the company’s strategy. It says Apple wants to work with existing financial providers to build its financial services. It wants to partner, not compete.
It doesn’t want to eat the sector. It wants to innovate it.
MacDailyNews Take: Yes, as Evans writes, this is iTunes Store redux. Just as Apple innovated to rescue the music industry from its stagnant self, the company is doing the same for banks, set in their ways, in dire need of modernization with Wallet, Apple Pay, Apple Pay Cash, Apple Card, and more to come, we’re sure!