How Apple is saving the banks (for a fee)

Created by Apple and designed for iPhone, Apple Card brings together Apple’s hardware, software and services to transform the entire credit card experience.
Created by Apple and designed for iPhone, Apple Card brings together Apple’s hardware, software and services to transform the entire credit card experience.

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.

Jonny Evans for Computerworld:

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!


    1. why is it a credit card bank’s fault when someone borrows money under specified terms and doesn’t repay according to the terms and the bank pursues remedies including fees?

      Retail banking as distinguished from credit card banking, needs “renovation “, but when it comes to credit-you borrowed the money now pay it back or pay he penalty.

      1. Because nowadays it is everybody else’s fault except the borrower. No sense of personal responsibility anymore. And Dems encourage this behavior. Just look at what my state has become due to the Dems. Everything illegal is now legal. Normal upstanding citizens are marginalized. Illegals and criminals are coddled. Police hands are tied because of social media and its impact. This country has become a 3 ring circus. No wonder other counties hate us, even our allies. And it’s Drumps fault too. Actually all politicians are scum nowadays. No spines whatsoever.

        1. Stop your ignorant ideological whining. You sound like a whiny little moron.

          Only rich democrats can get credit. Most democrats don’t qualify.

          It’s your average butt licking, ignorant republican who runs that card up then loses her job at Burger King cleaning toilets and can’t make her payments for her Walmart lay away account. Next thing you know her credit rating is down to 500 and her interest rate is up to 25% and now goes to Trump rallies and believes an idiot who does know where the Alabama border is when he is staring at.

          Are you really that much of a moron as your comment indicates?

  1. It’s somewhat amusing. Wall Street sees AppleCard as nothing special for Apple and rather underwhelming to most Apple analysts. Definitely not said to be disruptive or game-changing for Apple.

    1. Hmmm. I have a vague, faint stirring of memory that such things have been said of Apple before. “It’s not important”. “They can’t just walk in and do this.” etc. etc.

  2. I applied for the card and they offered me 26.9 % interest rate.. I laughed so hard,, Apple you better get your shit together .. I will not pay 26% to Goldman Sachs.. so FSCK YOU !! This is a joke and and an embarrassment to Apple!!

    1. It’s hardly Apple’s fault your credit rating is so abysmal. Thanks for telling the world how poorly you managed your life’s finances, though, we’re having a great laugh at your expense.

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.