Who will partner with Apple Card now and what does this shakeup mean for its users? (www.zdnet.com)
from L4s@lemmy.world to technology@lemmy.world on 01 Dec 2023 06:00
https://lemmy.world/post/8993056

Who will partner with Apple Card now and what does this shakeup mean for its users?::Apple Card’s transition to a new partner won’t be easy. Here’s a look at the technology, which banks may step up, and the different acquisition scenarios.

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heygooberman@lemmy.today on 01 Dec 2023 06:06 next collapse

Well, for the users, I guess this is a lesson for them to not bank on a Big Tech company like Apple to cover their financial credit and transactions.

pennomi@lemmy.world on 01 Dec 2023 06:31 next collapse

That’s the point, they don’t want to partner with someone on this, they want to do it in-house

mannycalavera@feddit.uk on 01 Dec 2023 08:49 collapse

Apple wants to get banking certification in every country it operates. That’s a new one.

jonne@infosec.pub on 01 Dec 2023 09:26 collapse

Yeah, I don’t think people realise how difficult it is to get those licences. Even with all the cash Apple is sitting on they can’t expedite the process. The only way to get around that hurdle is to actually buy a bank in each country.

pennomi@lemmy.world on 01 Dec 2023 14:05 collapse

They have cash to do that kind of thing, but the regulatory hoops are likely ridiculous.

muntedcrocodile@lemmy.world on 01 Dec 2023 07:28 collapse

Honestly suprised they need a partner at all

Corkyskog@sh.itjust.works on 01 Dec 2023 14:02 collapse

They probably don’t feel like being licensed as a financial institution in every darn state.