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The banking and payments infrastructure is such that most of it is handled by intermediaries and other companies anyway. Most banks, for instance, do not issue
by kristianc 8y ago
The banking and payments infrastructure is such that most of it is handled by intermediaries and other companies anyway. Most banks, for instance, do not issue their own cards or process their own payments - this is done by an intermediary. It's probably easier for Apple to break into banking by making the right partnerships than you think.
- roymurdock 8y agoThey already have the partnerships in place with ApplePay, I don't think they would every want to open themselves up to the type of scrutiny/regulation chartered banks face