Payments

Fintech Twitter reacts to #AppleCard

  • Twitter reacts to the announcement that Apple is serious about credit cards.
  • Losing no time, people found the card's weakest spots.
Fintech Twitter reacts to #AppleCard

Well, that didn’t take long. As people assimilate the announcement Apple made about its imminent Apple Card, fans and haters alike have taken to Twitter to air their (frequently funny) feelings.

Many people are excited about Apple Card and it does elicit all kinds of responses. The benefits for the end user are debatable, but it’s clear that Apple Card is really good for Apple.

The Apple Card’s neat physical attributes

The new Apple Card design is minimalistic and the card made of Titanium doesn’t display the cardholder’s name or credit card number on the physical card.

Challenger bank Revolut called Apple out for designing a card that looks quite similar to Revolut’s own card.

Even if Apple ripped off Revolut’s design, maybe Apple Card looks better?

Apple employees do keep secrets really well, don’t they? A fair number of tweets compared the Apple Card to Magnises, the credit card/social club scam that Fyre Fest grifter Billy McFarland came up with before the disastrous music festival.

Comparing Apple’s reveal of the Apple Card to this scene from American Psycho just speaks for itself.

Apple ups the luxury ante

People on Twitter poked fun at Apple’s trend toward the luxury end of products and experiences. Here again, a poke at Magnises.

Who but Apple could everyone so excited about a credit card?

Outside of an occasional outlier, like the Chase Sapphire card when it first launched, it’s hard to get consumers excited about a debt product. With Apple, not so.

Where does the card fit into the Apple ecosystem?

Apple Card helps to solidify Apple’s walled garden approach, funneling and locking in money throughout the ecosystem.

No fees, low interest rates…really?

Apple touted its sensitivity to expensive cards that are full of fees. Apple Card is supposed to do away with these fees and provide a low interest rate.

Some people saw an Apple Card as just a way to eke out more money per user for a company that’s lost its product mojo.

Payments

For American Express, contactless transit payments may pave the way for broader acceptance of the technology

  • Earlier this summer, the MTA rolled out contactless payments for its riders in New York City.
  • American Express sees this as a harbinger to broad rollout of contactless in the US.
Zack Miller | August 19, 2019
Member Exclusive, Payments

Credit and debit cards also undergo changes in the age of digital finance

  • As financial software evolves, physical credit and debit cards are also changing.
  • From design, orientation, colors, and materials, innovation is also coming to cards.
Sara Toth Stub | August 15, 2019
Payments

Venmo launches instant transfers to US bank accounts

  • Venmo users get added functionality.
  • But more importantly, Venmo is still searching for a road to monetization.
Zoe Murphy | August 13, 2019
Payments, Podcasts

Finix Payments’ Richie Serna: ‘The next generation of billion dollar payments companies won’t look like Stripe or Square’

  • Software companies are morphing into payment companies.
  • To do that, they must bring payments in-house and Finix wants to make that easier and more profitable for them.
Zoe Murphy | August 09, 2019
Payments

Mastercard gears up for cross border payment growth with Transfast acquisition

  • Mastercard acquired cross border payments firm Transfast earlier in 2019.
  • The company will pursue organic and inorganic growth strategies for its non-card payments group.
Zack Miller | August 06, 2019
More Articles