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What’s that Fruit in Your Wallet?

Apple finally launched its credit card last week. This long-awaited move makes a lot of sense. 

After setting the gold standard for phones, tablets, and laptops, it doesn’t seem like such a big challenge for Apple to set a new standard in credit cards.

So what exactly did Apple do? Beyond just issuing a credit card, Apple has taken the friction out of the application process, instantly connecting your new card with Apple pay on your mobile device. And they do this with the same level of sophistication applies to all of their consumer experiences. It is just another step in their ongoing effort to apply the Apple experience to daily life.

Apparently, it takes less than a minute to apply for this card, according to this post in ZD Net.

Apple also, realizing the power of information, has put considerable thought into illuminating how we spend our money. This speaks to the growing emphasis on leveraging data in the name of offering consumers greater transparency. For the Apple credit card user, they’ll be able to see how their spending patterns change over time. 

For some of us, showing us how we spend our money will be helpful. Others might just find it horrifying. In either case, Apple is promising that our spending data will remain private. You may remember the great ads Apple has run driving home its position on user privacy. 

Apple’s move into credit cards shows it recongnizes two major gaps in the traditional credit card model. First, it made sure it can offer something better for the consumer – an application process that considerably reduces the friction caused by fees and hidden charges. Second, it promotes a privacy policy that stands apart, especially when considered in conjunction with Apple’s overall approach to privacy. 

So what’s in your wallet? I will let you know once Apple is in mine.

2 Responses to “What’s that Fruit in Your Wallet?”

  1. Interesting read. Although Apple hasn’t revolutionized how people use credit cards, it definitely has removed some pain points.

  2. Kelly Brooke says:

    Apple never fails to impress. I like how they strive to secure user’s security and this time I am impressed with their overall approach to privacy. Great read

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