*** It's Show Time *** - March 25th 2019 Apple event

[UberTiger]

The credit card actually looks pretty good, especially the spending analysis tools, it will be a pretty good deal for a lot of Americans where you have to pay for many credit cards.

Apple Arcade seems pretty good. I'm really impressed with the quality of how of some of the games look. The fact that they're cross platform between MacOS and iOS is very impressive, and makes the whole iOS cross platform dev push make a lot more sense. It seems it's been pushed to make it easier content consumption for games and the new TV stuff, not so much to make productivity apps work cross platform.

Apple TV app on the Mac could be nice for highly optimised native streaming experience on your laptop.

Some of the AppleTV+ shows look alright, not sure I want to pay for any more content though. I already pay for Netflix and Amazon. It'll have to be HBO quality for me to sub.

I can see all these new grass roots services exploding into some pretty big revenue streams for them over the years as they gradually add content, games and get users signed up to their Apple Card/Bank system. It's all part of their pursuit to get a cut from as many different monetary transactions as possible, including the offline ones carried out on your current credit card.

 

[jpaul]

Is an Apple Card/Bank putting them in a strong position for invaluable data mining, especially in conjunction with Apple pay ? should I be worried if I were an Apple customer.

the recent rise of 3rd party banking apps, which, with user permission, are accessing your bank transactions (new api) are testament to this lucrative (millenial?) market

 

[Deleted member 77746]

Is an Apple Card/Bank putting them in a strong position for invaluable data mining, especially in conjunction with Apple pay ? should I be worried if I were an Apple customer.

the recent rise of 3rd party banking apps, which, with user permission, are accessing your bank transactions (new api) are testament to this lucrative (millenial?) market

Didn't Apple not say this wouldn't be passed onto third party companies. They can't see what you purchase as it's all generated on the fly by the device and no data is stored on central servers.

 

[visibleman]

Some can be bullet proof if you make them bullet proof.

Touché

They said that Apple News is the #1 news app.

Does anyone here use it? I don’t think I’ve ever opened it.

Depends how they're quantifying that figure; if it's install base, well.....

 

[Combat squirrel]

Apple is his side gig, his day job is a painter and decorator...

 

[ChrisD.]

Is an Apple Card/Bank putting them in a strong position for invaluable data mining, especially in conjunction with Apple pay ? should I be worried if I were an Apple customer.

the recent rise of 3rd party banking apps, which, with user permission, are accessing your bank transactions (new api) are testament to this lucrative (millenial?) market

They’re not google.

 

[ElliotHand]

I agree they're probably not looking to monetise the data-mining but still, offering a credit card is interesting in it's own right.

I wonder how this impacts them from a regulatory perspective, could they now be considered to have a financial services provider entity or does Goldman's / MasterCard maintain that as the underlying provider? Anyone have any idea of what margin's a typical credit card company operate on? I also wonder if this will form a blockchain type apple network with the aim of trapping more wealth within it?

 

[b0rn2sk8]

I agree they're probably not looking to monetise the data-mining but still, offering a credit card is interesting in it's own right.

I wonder how this impacts them from a regulatory perspective, could they now be considered to have a financial services provider entity or does Goldman's / MasterCard maintain that as the underlying provider? Anyone have any idea of what margin's a typical credit card company operate on? I also wonder if this will form a blockchain type apple network with the aim of trapping more wealth within it?

They specifically said no data mining and they don't know what you have purchased.

The US have a higher fee to the retailer so they are able to use this extra income to fund the extra perks and benefits to their US customers.

So don’t expect the same 2% and no fee etc benefits when or if it launched here.

Goldman are the underlying provider and as Raymond pointed out, card fees are much higher in the USA so the customer perks are higher. It all works out in the wash because the extra fees will just be baked into the cost of the product. We wont get anything like the 2% here.

Why did your thoughts go to block chain? What apple is going to offer is a well integrated version of an existing product (shock horror), have a look at www.privacy.com

 

[Raymond Lin]

Another important point to note is that Apple Pay in a LOT of retailers are maxed at £30, meaning you are not going to buy a lot of things with it. Even filling up the car with petrol will cost more than £30. The only place i know this doesn't apply is the Apple Store.

So you are forced to use the physical card at 1% instead of 2% perk.

 

[Feek]

Another important point to note is that Apple Pay in a LOT of retailers are maxed at £30, meaning you are not going to buy a lot of things with it. Even filling up the car with petrol will cost more than £30. The only place i know this doesn't apply is the Apple Store.

Actually, most places have now removed the £30 cap when paying with Apple Pay (and Android Pay). The £30 limit is still there for contactless cards but if you're using a phone/watch to pay then the limit doesn't exist. There are some retailers who still enforce it but it's gone in a LOT of places. I always pay for my fuel using my Apple Watch and get frustrated in Tesco because they haven't removed the limit yet.

/edit - I've found in many places that the staff don't even know this. I've often been told that I can't pay with my watch due to the limit as I've raised my wrist to pay but I always say "Can I try it?" and the staff are surprised when it works.

 

[jpaul]

They specifically said no data mining and they don't know what you have purchased

Apple may not, but Goldman are underwriting it, so they can market your purchase data, and give apple a back-hander;
if, folks hopefully link their apple pay with that card too (additional cashback-benefits for that) then Goldman have additional visibility.

edit - so in the usa you can opt out of credit card info share ..can we do that in the uk ?

You can opt out – to a point
If you don’t like having your credit card data analyzed, you can opt out of your bank sharing your anonymized information. By law, banks are required to let you decline having your data sold to certain third parties.

However, you have to affirmatively do it. For example, Mastercard and Visa offer online forms you can use to opt out of having your anonymous transaction data shared with others. You can also opt out of targeted ads through YourAdChoices.