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Apple doesn't have to become a bank. There is a lot of money to be made sitting between the bank and the customer (2%~5% of a transaction). Today, VISA and Mast
by martin_drapeau 11y ago
Apple doesn't have to become a bank. There is a lot of money to be made sitting between the bank and the customer (2%~5% of a transaction). Today, VISA and Mastercard grab most of that. Apple could replace them.
In a few years, there will be more Apple devices with Apple Pay than issued VISAs. When Apple Pay is accepted everywhere, credit cards will be doomed.