Apple's Credit Card

Did you see that Apple has finally released its credit card? They are partnering with Goldman Sachs and Master Card (unfortunately). The card is designed to integrate with your phone to make it easier to track your spend, there are increased security features, and it is easier just to tap and pay. They are aiming at having low interest rates and no fees. Oh, and the card is made out of titanium. Fancy!



There are a few things to note from the move. The first, notice how everyone wants to be in the fintech game? This is because the industry is ripe for disruption, and if a company reaches scale they can print money. The second is that the majority of these fintech providers run on the credit card networks - a great reason to own Visa. Third, Apple is using their card as another way to integrate you into their ecosystem, which makes it harder to switch to other phone makers.

For the next few years the Apple card won't move the needle when it comes to contributing to Apple's group profits but this looks like a good move for the future. You can read more about it here - Apple Card and Apple, Goldman Sachs start issuing Apple Cards to consumers.