- 5 mins ago
- Apple Services
- Alexandre Godard
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Apple has always had this soul of leader and the information of the day will not go in the opposite direction. Rather than relying on its partners in the financial field, the firm would have the idea of emancipating itself and creating its own service.
AppleBank!
Since the summer of 2019, almost two years ago, Apple has launched its own bank card in the United States. Soberly called Apple Card, this credit card has the classic functions of this type of card in addition to offering advantages when purchases concern Apple brand products.
To carry out such a project, the apple has joined forces with Goldman Sachs and CoreCard, which are recognized specialists in the banking field. Additionally, a partnership with Green Dot is currently underway for Apple Cash and the same goes for Citizens Bank and the iPhone Upgrade Program.
All these partnerships are very nice but as you know, Apple likes to have its independence, whatever the field. We have also seen it with the rumors around the Apple Car, in which we learned that the American giant wants to control everything, hence why it should take a bunch of years before the project materializes.
Coming back to the Apple Card, Bloomberg has just announced that Apple is currently developing a technology that would allow in the future to process its financial services internally and therefore to do without its current partners slowly but surely.
Thanks to the infrastructure and this high-performance technology, the brand would be able to manage the processing of payments, fraud, loans, etc. Credit verification, dispute management and risk assessment. would also be involved.
Note that this may be when the Apple Card could take off internationally and finally arrive here, in France. Having partners restricts expansion because of the clauses included in the contracts already signed.
As a reminder, Apple has big ambitions when it comes to its financial services. Beyond Apple Pay and Apple Cash, the iPhone has become a TPE. A monthly subscription service to own the latest iPhone would also be in preparation for the international market. A payment system in four installments free of charge directly via Apple Pay is also in the pipeline.
In short, Apple is not done with the banking sector and we can even say that this is only the beginning. If this project were to materialize, the Cupertino company would be propelled a little higher than it already is. Attention, Bloomberg specifies that it is more complicated than expected and that the plans could be delayed.