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, Podcasts

What’s Happening in Payments Ep. 7: Adyen’s Brian Dammeir on how to keep up with the shifting payments landscape

  • Brian Dammeir, president of North America at Adyen, joins host Ismail Umar on this week’s podcast.
  • He talks about his experiences at Adyen, the shift in consumer expectations across generations, and the role Adyen wants to play in the future of payments.
Ismail Umar | May 20, 2022
Finance Everywhere, Payments

Google launches digital wallet: 5 questions with Payments GM Arnold Goldberg

  • Google launched its digital wallet and virtual cards at its latest I/O developer conference, marking its first move in the payments space since the Plex project was scraped late last year.
  • Tearsheet spoke with Google's head of payments, Arnold Goldberg, about what this means for the Big Tech's journey in financial services.
Iulia Ciutina | May 13, 2022
Member Exclusive, Payments

Payments Briefing: ‘We penetrated the blue ocean opportunity of the Spanish-speaking market’ – NovoPayment’s Anabel Perez

  • This week, we take a look at Miami-based BaaS provider, NovoPayment.
  • We also discuss Bumped, a firm that rewards customers with equity in the brands they shop from.
Ismail Umar | May 12, 2022
Payments, Podcasts

What’s Happening in Payments Ep. 6: Quontic’s payment ring, Visa’s move into NFTs, and the new Square Stand POS system

  • This week, we discuss why Quontic Bank decided to launch a contactless payment ring.
  • We also talk about Visa's recent crypto and NFT-related activities, as well as Block's upgraded Square Stand POS system.
Ismail Umar | May 05, 2022
Payments

Rewarding shoppers with brand ownership: Bumped expands with a new browser extension

  • Bumped runs a service that rewards customers with fractional ownership of partner brands that they shop from.
  • The firm’s new browser extension notifies online shoppers every time their purchase is eligible for a stock reward.
Subboh Jaffery | April 27, 2022
More Articles