Apple plans to produce credit cards that will be available to Wallet users. This is reported by The Wall Street Journal, citing sources close to the company’s plans. Since Apple itself does not have the right to conduct banking business, the bank holding company Goldman Sachs will be responsible for issuing the “plastic”. The credit card gives the opportunity to expand the functionality of Apple Pay payment services, thus providing Apple device users with new financial options.
According to The Wall Street Journal, Apple and Goldman Sachs’ joint credit card creation project is coming to an end. This means that internal testing of the “plastic” by the two companies will begin shortly, and will continue for several months. Once the trial is over, the card will be introduced to users. Probably the presentation will take place at the end of the year.
Apple has an interest.
Expanding user options is not the only goal they want to achieve by creating their own credit card. Clearly, Apple wants to further lift its revenue from the financial services it provides, the only source of which until now has been Apple Pay. The company takes commissions for every transaction that was made using the contactless service. But it’s not the customer who pays, it’s the bank.
Apple Wallet
Additionally, Apple plans to incentivize users to engage more with Wallet, they told The Wall Street Journal. That’s why the decision was made to add something similar to the “wheels” to the app that keep shutting Apple Watch owners out. Based on that, Wallet will report to users about their opinions during the shopping process.
purchased items and the median statistical amounts they leave in stores.
