Jaromir Miko Apple states on its website that the Apple Card payment card is its creation and not the creation of a bank. Behind this marketing slogan is the fact that the card was designed to meet the standards typical of the Californian company's products.
Again, aspects such as a high level of security, simplicity or privacy play an important role. The card also allows you to buy an iPhone in installments without an increase, and users have an overview of how much they spend and pin they have available. Last but not least, it also provides a Cash Back program up to 3 % of every transaction that the user performs.
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Amaya Toman It could, however, be used as a marketing slogan to dream, that Apple stands behind absolutely everything related to the card, including its production, distribution and functionality. In fact, however, the card is only available at Goldman Sachs, and it is Goldman Sachs that now claims the position of "parent". Goldman Sachs CFO Stephen Scherr emphasized during a call with investors that the card is a creation of the bank, not Apple.
“I want this matter cleared up once and for all no matter whatdo claims the rights to the creation of this card. There is only one institution, whose decision he made possibleo its origin, and that is Goldman Sachs.,” said the bank's chief financial officer, Stephen Scherr. He also said that the company has set goals and objectives just like Apple, which he described as a good partner. In the end, however, only the bank that provides it decides how the payment card can work, and that is Goldman Sachs, not Apple.
An interesting fact is that Goldman Sachs invested approximately 300 million dollars in the development of the card, so on average today the bank loses 350 dollars on each Apple card. The bank also due to the development of the card, including technologyí and security has suspended development of most of its projects and moved thousands of engineers to Apple Card.
Source: Business Insider
