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.
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.

Payments, Podcasts

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  • He founded Extend, which works with banks' existing technology to issue virtual cards.
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Research: The rise of alternative payment methods around the world

  • Alternative payment methods are growing globally, replacing cash and cards.
  • Tearsheet looks at the numbers by region.
Zoe Murphy | January 07, 2020
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Visa’s Bill Sheley: ‘Everyday, millions of consumers and business get asked how they want to get paid’

  • Visa Direct enables every Visa card to receive money in real time.
  • Visa Direct's Bill Sheley joins us to talk about the progress his firm has made powering this ecosystem.
Zack Miller | December 30, 2019
Payments

Payments in 2020: Experts share their perspectives on rewards programs, automation, and voice (Part 3)

  • Tearsheet asked leading experts what they expect from the payments industry in the future.
  • This article focuses on integrated payments, loyalty programs, and automation.
Zoe Murphy | December 18, 2019
Payments

Payments in 2020: Experts share their perspectives on B2B payments, credit cards, faster payments (Part 2)

  • Tearsheet asked leading experts what they expect from the payments industry in the future.
  • This article focuses on B2B payments, faster payments, and credit cards.
Zoe Murphy | December 17, 2019
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