Would their first step not have been the Apple Card and Apple Cash, introduced in March 2019? I think I would read this as “a continuation of their moves began four years ago”?
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will this be available on anywhere in the world, or in the US only?
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But when Apple “upgrades” some software you’ll have to buy a new phone or laptop to access your money. And then they’ll change the charger cable, bc ‘fuck you, we’re apple’
(typed on my apple laptop)
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this is very true. i experienced it with 3gs (typed on my macbook pro 22 laptop)
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From the reports I have read, the problem at the moment is that they partnered with Goldman Sachs, who don’t operate in Europe and only have some sort of pilot project running in the UK.
So I don’t think so, mainly because they tied themselves to a bank that doesn’t do business in the EU. I have no idea about Africa, Asia or Oceania.
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The only catch may be that nobody has come along and given actual competition to banks until now.
Most here may be too young to remember, but savings accounts used to provide some pretty serious interest. Banks used to compete on it. I had a savings account as a kid with a 7% interest rate on it. Banks competed on this because they needed depositors for their other activities.
Then everything got deregulated and banks no longer needed many depositors to back up their shady investments and such. The floor fell out of savings account interest rates after that.
All it takes is someone new to come along and want to compete on this. 4% is not a gift. It’s nowhere close to where savings accounts were in the 1980s. It’s a reasonable competitive challenge today.
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