5 ms·

With Apple it is different due to the depth of integration with the ecosystem, and also it is a credit card, not a debit card.

Krasnol 8y ago
In the end it doesn't really matter for my argument. I mean, accusing Coinbase of stealing the idea is ridiculous.
- arsenico 8y ago
  Not stealing - there have been about a dozen "crypto" debit cards until today. But the speed of implementing it to match the news from Apple - could be, why not?
  - Krasnol 8y ago
    Because I'm pretty sure this is not something you come up with in such a short notice.
manigandham 8y ago
Not really, it's not easy but it's pretty simple. It's money + politics to get the connections to have a bank underwrite the cards. Apple went a little further with the fancy app and physical card but all the foundations are already available. You can see it yourself if you use any other major bank's mobile apps and cards.
- arsenico 8y ago
  Well, it is somewhat different still - this is real ecosystem work, and the depth of integration into it is quite significant.
  - manigandham 8y ago
    Can you explain what you mean by Apple's ecosystem integration? What is it that they do differently? As far as I can tell, the app has budgeting features that are similar to what mint.com offered a decade ago.
    - arsenico 8y ago
      Payment categorisation, maps, etc are long available as services from companies like Yodlee, for example. For the budgeting part, as well. What I mean is that it will just feel natural to pay with the phone using the credit card, which you don't really need to get from anyone else, but Apple themselves.
      - manigandham 8y ago
        Apple Pay has been backed by whatever credit card you want for years now, this isn't any different. The bank still has to approve you, it's not automatic. I guess I just don't see what's so special about this other than the fancy app.
        arsenico 7y ago
        Because it is not about going to the bank and getting your credit card, and then linking it to the Wallet. I think it will feel different from the experience perspective. For them that is the only way to get traction.
n1c0la 8y ago
and with Goldman Sachs - yeah.
astura 8y ago
I don't think so... Cobranded credit cards are a dime a dozen: charities, clubs, stores, and alumni associations all have them.
- arsenico 8y ago
  True, but GS has never issued credit cards before, so not really on par with any other co-branded credit cards.

Krasnol 8y ago

In the end it doesn't really matter for my argument. I mean, accusing Coinbase of stealing the idea is ridiculous.

arsenico 8y ago
Not stealing - there have been about a dozen "crypto" debit cards until today. But the speed of implementing it to match the news from Apple - could be, why not?
- Krasnol 8y ago
  Because I'm pretty sure this is not something you come up with in such a short notice.

manigandham 8y ago

Not really, it's not easy but it's pretty simple. It's money + politics to get the connections to have a bank underwrite the cards. Apple went a little further with the fancy app and physical card but all the foundations are already available. You can see it yourself if you use any other major bank's mobile apps and cards.

arsenico 8y ago
Well, it is somewhat different still - this is real ecosystem work, and the depth of integration into it is quite significant.
- manigandham 8y ago
  Can you explain what you mean by Apple's ecosystem integration? What is it that they do differently? As far as I can tell, the app has budgeting features that are similar to what mint.com offered a decade ago.
  - arsenico 8y ago
    Payment categorisation, maps, etc are long available as services from companies like Yodlee, for example. For the budgeting part, as well. What I mean is that it will just feel natural to pay with the phone using the credit card, which you don't really need to get from anyone else, but Apple themselves.
    - manigandham 8y ago
      Apple Pay has been backed by whatever credit card you want for years now, this isn't any different. The bank still has to approve you, it's not automatic. I guess I just don't see what's so special about this other than the fancy app.
      - arsenico 7y ago
        Because it is not about going to the bank and getting your credit card, and then linking it to the Wallet. I think it will feel different from the experience perspective. For them that is the only way to get traction.

n1c0la 8y ago

and with Goldman Sachs - yeah.

astura 8y ago

I don't think so... Cobranded credit cards are a dime a dozen: charities, clubs, stores, and alumni associations all have them.

arsenico 8y ago
True, but GS has never issued credit cards before, so not really on par with any other co-branded credit cards.