4 ms·

> Mastercard and Visa are undoubtedly going to pull every lever at their disposal to take out Apple. The Apple card isn't competing with Mastercard and Visa --

> Mastercard and Visa are undoubtedly going to pull every lever at their disposal to take out Apple. The Apple card isn't competing with Mastercard and Visa -- in fact, it uses the Mastercard payment network. It's competing with credit cards issued by other banks on top of the MC and Visa payment networks (and AmEx/Discover, which unlike MC and Visa combine the payment network and card issuing). I doubt the other banks are too afraid of Apple though, I didn't see anything so compelling about the Apple card that would cause it kill other credit cards. It's a slick product, but not game-changing the way that e.g. the iPhone was to entrenched phone makers.

bilbo0s 8y ago
Then Visa will pull every lever at its disposal to take it out. It's also disappointing though, because it means Apple is not competing as a separate entity. What we want is for Apple to jump in be an actual credit card company. Then for all of them to try to destroy each other. (Unfortunately, now that I think about it, there are probably legal reasons that Apple is restricted in this regard. That's a shame. Basically means that it's Mastercard and Visa forever.)
ksec 8y ago
>I doubt the other banks are too afraid of Apple though, I didn't see anything so compelling about the Apple card that would cause it kill other credit cards. Interesting. I thought it offer fairly good Cash Back, no Fees, no hassle, ease of use. Even if it manage to reach 10% of the US iPhone users it will be a serious damage to other CC. While I may not get the best Rebate and Points when using Apple Card, I don't think those few percentage are worth it for my privacy.
- sjwright 8y ago
  Apple hasn't patented cash back, no fees, or ease of use. The other banks are free to copy most of these ideas if they're prepared to. Look at the personal finance scene in the UK—it's one of the more vibrant markets for banking right now with the likes of Monzo, Revolut, Monese, and countless others. Convenience and simplicity has prior art there.
  - ksec 8y ago
    But none of them integrate as well as Apple Card. And none of the other brand are as trusted as Apple. Unless other big banks offer something similar, people will choose a well known brand that offer these capabilities and not some unknown ones.

bilbo0s 8y ago

Then Visa will pull every lever at its disposal to take it out. It's also disappointing though, because it means Apple is not competing as a separate entity. What we want is for Apple to jump in be an actual credit card company. Then for all of them to try to destroy each other. (Unfortunately, now that I think about it, there are probably legal reasons that Apple is restricted in this regard. That's a shame. Basically means that it's Mastercard and Visa forever.)

ksec 8y ago

>I doubt the other banks are too afraid of Apple though, I didn't see anything so compelling about the Apple card that would cause it kill other credit cards. Interesting. I thought it offer fairly good Cash Back, no Fees, no hassle, ease of use. Even if it manage to reach 10% of the US iPhone users it will be a serious damage to other CC. While I may not get the best Rebate and Points when using Apple Card, I don't think those few percentage are worth it for my privacy.

sjwright 8y ago
Apple hasn't patented cash back, no fees, or ease of use. The other banks are free to copy most of these ideas if they're prepared to. Look at the personal finance scene in the UK—it's one of the more vibrant markets for banking right now with the likes of Monzo, Revolut, Monese, and countless others. Convenience and simplicity has prior art there.
- ksec 8y ago
  But none of them integrate as well as Apple Card. And none of the other brand are as trusted as Apple. Unless other big banks offer something similar, people will choose a well known brand that offer these capabilities and not some unknown ones.