Much has been written about the looming end to the Apple-Goldman Sachs relationship (we even produced a cartoon about it). And while this is a big deal for Goldman and Apple, the average Apple Card holder likely does not give it a second thought.
That is why I loved Dave Birch’s take today on the pending breakup. The 6.7 million Apple Card holders don’t care and mostly don’t know which bank is issuing their card. Many (most?) of them probably just use the Apple Card with their Apple Pay wallet anyway.
But what really caught my attention is that Birch put forward the tantalizing idea that maybe Apple has bigger plans when it comes to payments. Maybe Apple is working towards a future where they can bypass the traditional payments rails completely and make the Apple Card an account-to-account payment vehicle.
If there is one company that could pull that off successfully it would be Apple.
One thing I am quite certain about: Apple will continue to push the envelope when it comes to financial innovation.
Featured
No-One Cares Which Bank Provides Their Apple Card
By David G.W. Birch, Contributor
So long as my rewards card works and I get my points or whatever, I do not care which bank actually provides the account.
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