Speaking on Apple’s Q3 2019 earnings call, Tim Cook confirmed that the company’s Apple Card would start rolling out in August.
Previously, Apple claimed that the Apple Card would launch at some stage this Summer, and it seems they’re rolling in during the very last part of that window, with users able to sign up for the card using the Wallet app in iOS 12.4, which released last week.
Those of us living on Brexit island will have to wait a bit longer, because it’s going to be available to those in the United States first, the first willing guinea pigs for Apple’s first moves in the financial space.
At the moment, the Apple Card is being tested both by Apple retail employees and also employees for bank (and collaborators) Goldman Sachs.
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It’s part of an important push for a diversity of income within Apple, as the company seeks to reestablish itself as the market for both their phones and computer products softens. In the earnings call, Cook reveals that the company’s third-quarter earnings has beat predictions by making $53.8bn, higher than the predicted $53.39bn.
The results pick out a rise for Apple when it comes to both services and wearables, as Apple emphasises these over their hardware. However, with the launch of the Apple Card they’ll face one of their toughest challenges yet: making a financial product into a lifestyle choice, helped by some of Apple’s special magic.
If nothing else, at least they can be one of the first tech companies you can become remarkably indebted to. We’ve got more info on the Apple Card here.
Cynicism aside, if this succeeds it’ll be interesting to see if other tech companies start to make moves into the financial space and what form that exploration will look like.