Review 125: 02.04.2021 at 03:00 pm
đ· Apple is in a huge competition with world’s banks after they issued Apple Card. It is an electronic and physical card from Apple. This cards gives you discounts and won’t penalize you when you’re late for payments. This card will make your life easier. Apple has created one of the best banks in the world. It is an evil bank, though!
In this review, we don’t criticize companies. Apple will be the main topic in this article.
We will also mention other companies. All due respects to all other companies like Samsung, Huawei who will do the same thing as Apple did. Apple cooperated with Goldman Sachs bank and created something called Apple Card.
This card will be your gate to achieve all your financial businesses in ease. When you spend money using this card, you will be rewarded with cash back in your account in Apple Cash.
The reward system is going to be as follows: If you buy from your iPhone in Apple Stores, you will get 3% cash back where you can use this cash whenever you want. If you buy from any other stores using the Apple Card, you will get 2% cash back.
And if you use the physical card with the beautiful engraved name on it, you will get 1% cash back. This reward is different than any other reward system from any bank. Apple will give you rewards daily. You won’t have to wait until the end of the month to get your rewards.
Also, Apple won’t penalize you if you’re late in paying your payments. Just like any other credit card, if you buy an item for 100 USD, if you don’t pay your payments, they won’t penalize you, but there is something they didn’t say, though!
Apple won’t add a fine to your payments, but they might increase the payment value. In a way or another, they won’t penalize you, but the payment is raised.
There is an important question, why did Apple give you a card, TV+, Arcade and News+? Lots of services were directed to the US market in that event. We could say that phone manufacturers and market is slow. Apple tried to invent -and it will work in USA- new market of services. This will ensure that profit will keep flowing for Apple.
No one can deny the temptation in using their services. This huge US market will get more services that will ensure lots of profit for Apple.
We now know why they have created these services.
Let’s go back to Apple card, where Apple cooperated with one of the deep-rooted banks in the world. What’s the goal behind it?
One of the goals is that this service will force you to use their products. You can’t apply for Apple Card unless you have an iPhone.
You will have to be in Apple ecosystem. If you have 260 USD, you will spend 260 USD, but with Apple Card, you’ll have to have an iPhone, internet, and then 260 USD!
For the long term, this investment won’t be much, but for the short term, it will be a huge investment. It is the same thing with all digital wallets. Apple’s move is really clever. This invention will lock people up in their ecosystem.
They know that their devices have reached great maturity. No one needs a better phone that the 3 previous iPhones, even for the upcoming 3 years. Why would I make a new iPhone if I can make more profit from this method?
In the last 3 years, Apple has been slow in implementing new technologies. The reason is that they don’t make new devices for sales, rather, build them using research and development.
They check if people need these new devices, and if they don’t want to buy, they will make something they need to buy. They will also make new services for users. The most important secret for Apple is that anyone with an Apple Card will spend more money.
Many researches prove that if you have a digital wallet with money in it, you will spend more money. As paying is easier and faster. The money you have isn’t tangible, so the only thing you do is to tap and pay, There is a profit for them in this process.
Mada Pay and Apple Pay are available in many countries. it is activated in cooperation with Apple in a different perspective than usual.
Anyway, there is privacy in your financial transactions. Apple used this to promote their service. No one will know what did you buy or from where. The bank will only know that you spend a lot of money.
The bank will be able to give you loans and deals on products you’re interested in. They won’t know what you’ll buy though, but they know that you spend lots of money.
Goldman Sachs could receive data of tens of millions of people in USA. It will also know that there are transactions happening.
They will know if you pay your payments regularly, meaning you have financial fluidity, resulting in more loans and debts. What’s the benefit then? More profit for banks. The great design of the Apple card made it also one of the most secure cards. It only belongs to Apple in cooperation with Goldman Sachs. It only has your name on it and the small metal reader.
You can buy things using it, and you will get 1% cash back, but if you lose it, you only have to prove your name.
Anyone one who has the card has to prove their name, and that’s it. Everything is protected. You can activate or deactivate the card easily.
This is only applicable in USA. Some say that Apple Cash will be available in all countries. I don’t see a reason why Apple Cash could come to all countries. Financial transactions will be stored in servers in USA. almost countries have the manpower to make our own financial system.
Financial sector is protected and the servers are stored locally. This is what gives us leverage. It is not because of the servers and their locations, rather, it’s about the data stored in them.
I started the review by saying Apple is evil. They are evil in a very clever way in task distribution. I didn’t mean it in an evil way, rather in a clever way. I mean evil in a smart way.
Other services might succeed or not, just like Apple Music. But the Apple Card is definitely going to succeed in USA. I want to ask you a question and participate in the poll. Would you like a service like Apple Card to be available in your country?
The second thing is, if you make electronic transactions, do you think the new method will be easier? This is the end of this review. Apple have been inventing new services.
I used the Apple Watch with most of my transactions!