Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
Apple is indeed a very different company to what it was just over 10 years ago. I wonder what Steve would make of this, if he were alive right now. Or indeed if this is a direction he would allow the company to take? Discuss.
He’s dead…who cares
 
If you use a credit card for any reason other than convenience, or rewards, be it cash back or points or whatever, and you don't pay it off in full monthly, you are financially illiterate.
…no, I think you mean oh-so-happy with shiny new things. Don’t be jealous.
 
Amazing to see how many people won’t use this yet are so triggered by this. If it’s not your thing in you “all cash” then great…move on. Clearly this isn’t for you, however this is macrumors so there has to be hate and *******s a plenty
 
  • Like
Reactions: windowsblowsass
Well, this is one productive way Apple can deploy its massive cash holdings. A lot of shareholders, though, might prefer a dividend increase or stock buybacks.

Further, I wonder if Apple Financing LLC is structured so that Apple also avoids repatriating and paying US taxes on all the $$$ it has parked in various non-US jurisdictions.

There is a definite PR benefit. No visible ties to Wall Street investment banks means knee-jerk Goldman Sachs haters can start spreading out purchase payments without any dissonant feelings. ;-)

----------

ETA: the Bloomberg story says Apple Pay Later uses a Goldman-issued Mastercard number as part of the transaction. This allows Apple to sidestep any state or federal bank regulation (it sounds like Apple Financing LLC is regulated at the state level as either a money transfer service or a payday lender, both of which benefit from much less stringent regulation than banks).

From a strategic perspective, moving into non-bank financial services during a period when capital is no longer chasing yield, due to higher interest rates, VC activity is reduced, and IPOs are difficult could allow Apple to dominate a lot of currently unregulated or lightly regulated fintech sectors relatively cheaply and easily.
Can I give you my money to manage for me? You sound like you know what you are doing. 😆
 
  • Haha
Reactions: KaliYoni
Or live within your means.
The entire world is build on a credit system. Before systems of credit were devised, everyone did live squarely within their means and few were ever able to advance beyond their present circumstances as a result. I get the vibe of what you’re saying but also it’s missing a pretty important piece of the puzzle.
 
  • Like
Reactions: windowsblowsass
This is just the beginning. Eventually Apple will go into weapons and construction, and then establish its own nation.

Yes. So instead of pulling out of any nation they could now wage war against them and ultimately enter into real World domination.

I am sure lots of Macrumors Apple supporter would love this
 
Your argument is flawed for two reasons. One appreciation as you mention is far from an exact science. Two; BNPL isn’t talking about purchases that build equity. It’s so Johnny, who can’t afford the child support he owes to 4 women, can have his Xbox now and pawn it later for cents on the dollar, default on the loan and drive up costs for the rest of us.

No amount of stretching of your elementary understanding of finance can make BNPL into anything more then what it actually is; predatory.

The original idea is still sound: having 500 bucks in cash only doesn’t mean you can afford a 500 Xbox.
I mean you just revealed that your whole schtick is built completely on a classist contempt for the poor.
 
  • Love
Reactions: turbineseaplane
Things aren’t good at the moment. I know several people making minimum wage that suddenly are struggling for even food/gas/housing and more due to everything increasing in price.

I think this kind of thing will help a major blowback with the economy and inflation. Heck I make well into the six figures and even I had to cut down on stuff as pricing is just getting ridiculous.
 
  • Like
Reactions: biracialfamily91
It’s obvious that most people on this forum are either well off, upper class or rich by reading some of these statements.

Some folks are truly struggling to get by these days especially with inflation. Something like this would be extremely beneficial for them especially if they use Apple products.
 
With a credit card you typically have about 30-60 days to pay off the balance (assuming you pay off the balance every month). With Apple Pay now, you pay off 25% immediately, 25% in 2 weeks, 25% in 4 weeks, and 25% in 6 weeks? So not really better than just putting it all on a card? This seems like a benefit to debit card users but limited value for others. Or am i missing a step?
 
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.