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

‘Tap-and-ride’: How public transportation is making room for contactless payments

  • The public transportation industry’s adoption of contactless forms of payment is taking off as a result of the pandemic.
  • The adoption of contactless in public transport could pave the way for contactless to integrate into other industries as well.
Rivka Abramson | May 04, 2021
Payments

Google Maps and Waze enable users to pay for parking and gas

  • Google Maps allows its users to pay for parking and public transport from within the app.
  • Waze enables drivers to pay for fuel and parking through its partner apps.
Ismail Umar | April 26, 2021
Payments

More fintech firms are offering crypto rewards on debit and credit cards

  • A growing number of fintechs are providing bitcoin rewards on debit or credit card purchases.
  • Unifimoney is the first to offer credit card rewards in three different asset classes.
Ismail Umar | April 22, 2021
Payments

Looking to the future: Healthcare is the next frontier for Buy now, Pay later

  • Walnut is one of a few lending apps that strives to make healthcare more affordable in the US.
  • Experts believe that there are opportunities for growth in the healthcare, service and travel industries over the next few years.
Shehzil Zahid | April 20, 2021
Member Exclusive, Payments

With Direct Payouts, Visa can push payments to cards and accounts cross border

  • Visa Direct has built an ecosystem of senders and receivers powered by push payments.
  • Visa is now launching Visa Direct Payouts, extending push payments cross border and to more types of accounts.
Zachary Miller | March 30, 2021
More Articles