A lot has been written concerning the looming finish to the Apple-Goldman Sachs relationship (we even produced a cartoon about it). And whereas it is a large deal for Goldman and Apple, the common Apple Card holder seemingly doesn’t give it a second thought.
That’s the reason I liked Dave Birch’s take in the present day on the pending breakup. The 6.7 million Apple Card holders don’t care and largely don’t know which financial institution is issuing their card. Many (most?) of them in all probability simply use the Apple Card with their Apple Pay pockets anyway.
However what actually caught my consideration is that Birch put ahead the tantalizing concept that possibly Apple has greater plans with regards to funds. Possibly Apple is working in direction of a future the place they’ll bypass the standard funds rails utterly and make the Apple Card an account-to-account cost automobile.
If there may be one firm that would pull that off efficiently it could be Apple.
One factor I’m fairly sure about: Apple will proceed to push the envelope with regards to monetary innovation.
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By David G.W. Birch, Contributor
As long as my rewards card works and I get my factors or no matter, I don’t care which financial institution truly gives the account.
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