Apple joining the fintech world

Apple, Goldman Sachs team up on credit card paired with iPhone — The Wall Street Journal — “The card will be rolled out to employees for testing in the next few weeks and officially launch later this year, according to people familiar with the matter. The companies hope to lure cardholders by offering them extra features on Apple’s Wallet app, which will let them set spending goals, track their rewards and manage their balances, the people said.”

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Just yesterday we heard the competition authority prevent ASDA and Sainsbury’s from merging but it looks like Apple and Amazon will be allowed to take over the world…

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The UK & US regulators seem to have very different attitudes towards competition & monopolies :sweat_smile:

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I’m surprised Apple haven’t done this sooner.

I imagine they were happy with the 0.15% cut of Apple Pay transactions until recent. It will be interesting to see what innovation they bring to the table.

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The US seems to see competition regulation through the lens of consumer prices rather than whether competition is being stifled.

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