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Apple Reportedly in Discussions With Banks to Launch Apple Card in India
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I’ll send you the transcript we sent to Goldman Marcus leadership.
But while you wait, OCC is investigating this (including transfers in/out which were flagged for suspicious reasons - not financial but operational).
“Your experience” is a silo. This was widespread. As were blocked transfers.
It seems you are correct, although I thought they were at one point, but I cannot find any reference, so I guess I was just incorrect.
Here are the current 3% merchants:
• Apple Pay purchases made directly with Apple (including Apple stores, within the App Store and for Apple services).
• Uber and Uber Eats purchases via Apple Pay.
• Walgreens and Duane Reade purchases via Apple Pay.
• In-store T-Mobile purchases via Apple Pay.
• Nike purchases via Apple Pay (in U.S. stores, on Nike.com and on Nike apps).
• Exxon and Mobil gas station purchases via Apple Pay. This includes fuel, car washes and convenience store purchases.
• Panera purchases via Apple Pay.
• Ace Hardware purchases via Apple Pay. This includes purchases in the Ace Hardware app, on AceHardware.com and at participating stores nationwide.
I did not doubt you had a bad experience, just stated that my experience (and that of many of my friends) has been the exact opposite of yours.
Just as the IG from Treasury, the FDIC and the Fed investigated AmEx for their sales practices. Lots of investigations, until they are charged, they are just that. In 2019, Apple was investigated for Gender Discrimination in card issuing and was exonerated.
You must be right, I must be the only person who has had a positive experience with the card, it is amazing they have any customers at all. Strange that have had so many people sign up for their savings account given how terrible the rest of their customer experience is.
Why so much hatred towards India when the UK prime minister is of Indian origin??
The Australian banks fought hard against Apple Pay, eventually going to court. I would imagine they’d do the same for any of Apple’s financial products. Apple’s likely not in a hurry to be “everywhere” with the Apple Card and are just investigating those regions most likely to end in an actual deal.
Well it seems India and US friendship grew stronger and the recent store openings and the negative wallet reviews paid up for it
Think you meant "towards the UK".
Anyway A) that was a joke B) an prime minister of Indian origin changes nothing about the pathetic display of stolen stuff that is still very much a part of the highest level of British power. Not sure how pointing at this quite undeniable fact can be labeled as "hatred". You could at best infer that I hate the British royal family (you'd be right, but I have a way longer list of reasons) but not at all the UK as a whole.
Apple has change its behaviour towards India. They know they can earn much more in this market. But they have to be price sensitive. The internet here is literally free compared to West. Average Indian easily consume more than 1GB to 5 GB on his mobile Data Plan.
Even I don't mind doing back up and App Updates on Mobile Data.
Well I love UK more than India so I dont care about it anymore and secondly the stolen goods do belong to India which were stolen during the british tule but we are not here to discucss that we are here to discuss about the apple pay launching in india my before UK or other countries.Btw I am waiting ti dump my Indian citizenship anytime
Thats true unfortunately apple products here are too overpriced but we stil buy it anyways.
I didn't want to discuss that either, it was just a joke
And frankly, I also thought we were here to discuss "Apple pay in India" and not "Apple pay in India before others". I don't think that's how Apple decides stuff, they have separate divisions, it's not like Tim Cooks wakes up and says "I think I like India more than the UK, let's prioritise India".
Also this:
Apple Acquires UK Banking Startup in Potential Hint at International Apple Card Launch
Apple has acquired Credit Kudos, a UK open banking startup that seeks to help lenders make better decisions (via The Block). Credit Kudos offers...
www.macrumors.com
I agree with you hopefully it arrives sooner so we can use it just hate the restrictions on usI didn't want to discuss that either, it was just a joke
And frankly, I also thought we were here to discuss "Apple pay in India" and not "Apple pay in India before others". I don't think that's how Apple decides stuff, they have separate divisions, it's not like Tim Cooks wakes up and says "I think I like India more than the UK, let's prioritise India".
Also this:
Apple Acquires UK Banking Startup in Potential Hint at International Apple Card Launch
Apple has acquired Credit Kudos, a UK open banking startup that seeks to help lenders make better decisions (via The Block). Credit Kudos offers...
Yeah, super friendly. They're funding Russian murderers and are completely unapologetic:
India's Russian oil buying scales new highs in May
India's rising imports of Russian oil hit a record high of about 1.95 million barrels per day (bpd) in May denting purchases from Iraq and Saudi Arabia fell, tanker data from trade and industry sources showed.
India is a very bifurcated society. Some very, very rich. And many very, very poor.
'Survival Of Richest': Over 40% Of India's Wealth Owned By 1% Of Population; Bottom 50% Accounted For 3%
A one-off tax on unrealised gains of India’s richest person, Gautam Adani, could rise to ₹1.79 lakh crore - an amount sufficient to employ more than 50 lakh primary school teachers for a year in the...
It seems you are correct, although I thought they were at one point, but I cannot find any reference, so I guess I was just incorrect.
Here are the current 3% merchants:
• Apple Pay purchases made directly with Apple (including Apple stores, within the App Store and for Apple services).
• Uber and Uber Eats purchases via Apple Pay.
• Walgreens and Duane Reade purchases via Apple Pay.
• In-store T-Mobile purchases via Apple Pay.
• Nike purchases via Apple Pay (in U.S. stores, on Nike.com and on Nike apps).
• Exxon and Mobil gas station purchases via Apple Pay. This includes fuel, car washes and convenience store purchases.
• Panera purchases via Apple Pay.
• Ace Hardware purchases via Apple Pay. This includes purchases in the Ace Hardware app, on AceHardware.com and at participating stores nationwide.
No they never were, it was only those retailers in the list. The only recent addition was Ace Hardware, other than that it’s always been the same few retailers.
True, the big four didn’t like apple pay. Nonetheless, Australia was one of the first countries to have it. Just as it’s one of the only three that got News besides the US. Surely there are slight variations: it wasn’t the case with apple watch ECG which Australia had to wait very long to have (if it did get ecg, which I’m not so sure about), but more often than not Australia is near the top of Apple’s list.
Right but this is different in that ONE of those banks are going to have to carry and deal with the customer load of any Apple Card that gets introduced. As someone else said, Goldman had a strong desire to have SOME kind of representation in the consumer sector, so they were willing to provide the Card Apple wanted to offer. A card that leaves a lot of “fees” on the table.
Of the 4 banks in Australia, I can’t envision any of them bending over from their position of power (1 out of 4 of the consumer banking establishment in Australia). Especially considering each of them may already have their OWN card solutions in place (which, in addition to hefty fees also provides them buckets and buckets of sweet, sweet consumer data that Apple’s solution wouldn’t provide in the same way). It seems to me that the same banks that wanted to force their own wallets onto the iPhone would be opposed to ceding their well heeled Apple customers to the Apple Card.
India is neutral when it comes to the war between Russia and Ukrine .Yeah, super friendly. They're funding Russian murderers and are completely unapologetic:
India's Russian oil buying scales new highs in May
India's rising imports of Russian oil hit a record high of about 1.95 million barrels per day (bpd) in May denting purchases from Iraq and Saudi Arabia fell, tanker data from trade and industry sources showed.www.reuters.com
Maybe, or maybe there is someone who wants access to Australia’s 25 million residents and sees this as a way to break in, just as Goldman Sachs did.
Was that not the argument that was made when they tried to keep Apple Pay out altogether? Cartels hold right until they do not.
Unless one sees a chance to take customers away from the others using the Apple Card. I have no evidence that it will happen at all. (I am not arguing that any of these are likely, as I am not convinced that it is a big enough market to make it worth it, but I am just pointing out the history).
Australian banks ALREADY have access to Australia’s 25 million residents. They don’t need Apple Card for that. As Goldman Sachs operates in Australia, they also already have access to them.
The argument then was won by Apple and the banks had to capitulate. Apple can’t ‘win’ an argument that would end up with the government regulating that one of their top banks MUST carry the Apple Card. Those banks either see a business worth pursuing, or they don’t.
Does Goldman Sachs issue a credit card in Australia? If not, they (or some other player who does not currently issue one) could decide that they wanted access to Australia’s 25 million residents. As long as their might be a player that is not currently in the market, or is the smallest (or at least not the largest) player, there is someone who might have an interest.
No, the banks could not negotiate as a block, but none of them was required to work with Apple for Apple Pay. One bank decided that someone was going to move to offer Apple Pay and chose to get first mover advantage by offering it. In the same way, one of the existing players may decide that someone is going to offer an Apple Card and that they could gain share by it being them.
Again, I am not predicting that either of these things will happen (25 million is smaller than the population of Texas) just that this is how Apple has done it in the past (see the history of the iPhone).
Incorrect.
Goldman Marcus retail banking ≠ Goldman Sachs.
Goldman Sachs | Consumer Banking -
(and the Apple Card is even more restrictive - USA-only for the time being, I believe - but then again, the whole point of this thread is how OTHER banks - India-based - can issue and/or serve the "Apple Card India")
As a side note, it's not making money. So expansion isn't forecasted to do any better, especially as US citizens are most likely to carry credit card debt (aka unsecured loan portfolio), which is a significant revenue driver for credit cards.
Goldman Sachs: we need to talk about Marcus
Online consumer banking service falling short of parent company’s expectations
Goldman Sachs does operate in Australia (as indicated by your link). While they don’t currently offer a credit card in Australia, they could offer their current brand without Apple if they so desired.
Absolutely correct, not to mention the helpful interface that Apple has in place to help people keep their balances down, which is related to the lack of the fee structure that any bank that services Apple’s card would have to deal with.
I could make up edge cases of how it MIGHT go forward in countries other than India, but, looking at the reality of the situation, of something that was last rumored to happen in 2019 I believe, it’s not a think that’s likely.
