Payments

Research: How Apple Card is performing after its public launch

  • After touting Apple Card's successful launch, Goldman Sachs finally provides the public with some data.
  • After publicly launching in third quarter, Goldman has extended almost $10 billion in credit.
close

Email a Friend

Research: How Apple Card is performing after its public launch

Goldman Sachs has been banging the drum on how successful Apple Card’s launch has been. But, the bank hasn’t provided metrics to back up this assertion.

Regulatory filings this week provide the first glimpse into how well Apple Card, and ultimately the partnership between Apple and GS, is performing.

What we know:

  • Goldman Sachs has extended about $10 billion in credit lines to Apple customers as of Sept. 30
  • New credit card customers had $736 million in loan balances at the end of the third quarter
  • Goldman had throttled its consumer lending via Marcus in anticipation of Apple Card’s launch. Outstanding loan balances remained at $4.8 billion for the quarter.
per Bloomberg

Switching gears:

We don’t know exactly how this will impact Apple.

Tearsheet’s own research shows the financial professionals see growing competition from Apple in consumer banking. People who work in financial services and fintech expect Apple’s consumer finance offerings to become more competitive in three to ten years.

0 comments on “Research: How Apple Card is performing after its public launch”

Outlier OpinionsMakers

Payments, Sponsored

Cybersource is bringing contactless payments to riders worldwide

  • 88% of global public transit passengers expect contactless payment options to ride.
  • Cybersource is helping transit systems reduce complexities and accelerate implementation timelines to adopt Tap-to-Ride options for passengers.
Rebecca Alma Cohen | October 21, 2021
Payments

With an eye on becoming a super app, PayPal in talks to buy social media app Pinterest

  • PayPal is scouting a $45 billion acquisition of Pinterest, one of the biggest social media apps.
  • It's in line with the payments company’s plans of becoming a super app by combining an e-commerce platform with financial products
Iulia Ciutina | October 21, 2021
Payments

How customer experience is driving the new era of payments, in four charts

  • Increased demand for experience-led solutions rather than products is defining a new era in the payments industry
  • Customer behaviour is changing, driving financial institutions towards offering new lifestyle-embedded payment methods
Iulia Ciutina | October 20, 2021
Payments

Zuora updates its platform with ‘unified monetization’

  • The new tool lets merchants package a one-time purchase and a recurring purchase within a single offering.
  • Unified monetization could help Zuora appeal to companies that rely mostly on one-time purchases for their revenue stream, but could see subscription offerings as a way to expand.
Rivka Abramson | October 04, 2021
Payments

Trustly adds instant payouts to US offerings

  • Trustly's offering, in partnership with Cross River Bank, allows businesses to complete near-instant disbursement of funds through its platform.
  • Industries that can benefit from the offering include retail, marketplace, insurance, and sports betting companies, says Trustly.
Subboh Jaffery | October 01, 2021
More Articles