this post was submitted on 01 Dec 2023
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Who will partner with Apple Card now and what does this shakeup mean for its users? (www.zdnet.com)
submitted 11 months ago by L4s@lemmy.world to c/technology@lemmy.world
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Who will partner with Apple Card now and what does this shakeup mean for its users?::Apple Card's transition to a new partner won't be easy. Here's a look at the technology, which banks may step up, and the different acquisition scenarios.

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[–] heygooberman@lemmy.today 8 points 11 months ago

Well, for the users, I guess this is a lesson for them to not bank on a Big Tech company like Apple to cover their financial credit and transactions.

[–] pennomi@lemmy.world 5 points 11 months ago (1 children)

That’s the point, they don’t want to partner with someone on this, they want to do it in-house

[–] mannycalavera@feddit.uk 11 points 11 months ago (1 children)

Apple wants to get banking certification in every country it operates. That's a new one.

[–] jonne@infosec.pub 7 points 11 months ago (1 children)

Yeah, I don't think people realise how difficult it is to get those licences. Even with all the cash Apple is sitting on they can't expedite the process. The only way to get around that hurdle is to actually buy a bank in each country.

[–] pennomi@lemmy.world 5 points 11 months ago

They have cash to do that kind of thing, but the regulatory hoops are likely ridiculous.