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HomePeer to Peer LendingFintech Nexus E-newsletter (January 31, 2024): Apple releases utilization particulars on the...

Fintech Nexus E-newsletter (January 31, 2024): Apple releases utilization particulars on the Apple Card for the primary time


Yesterday, Apple shared particulars on Apple Card utilization for the primary time.

The cardboard was launched in 2019 and since then it has acquired 12 million customers, not a nasty effort in lower than 5 years. Customers earn Each day Money rewards after they use the cardboard and Apple reported that the whole for 2023 was over $1 billion.

Whereas the $1 billion quantity sounds spectacular not many individuals are utilizing Apple Card as their major card. Just below 30% use the Apple Card to make two or extra funds every month.

The corporate additionally touted its monetary well being focus with 200,000 customers who had been initially denied the cardboard efficiently following the personalised steps to enhance their credit score and had been later permitted for the cardboard.

The article even included a quote from a Goldman Sachs government singing the praises of the Apple Card. However I shall be stunned if the Apple-Goldman relationship lasts till the top of the yr.

Whereas the Apple Card is a cool product, it could possibly be a lot extra. Significantly given the truth that the Apple Card was purposely constructed for tight integration with the Apple Pockets. However that may be a dialog for one more time.


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  • Peter RentonPeter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media firm centered on fintech. Peter has been writing about fintech since 2010 and he’s the creator and creator of the Fintech One-on-One Podcast, the primary and longest-running fintech interview collection.



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