You need to have a partnership with a bank to run Apple Card in another region, it’s not a simple thing to expand. However Apple Pay was US exclusive for a long time and it still expanded. I think it’s possible, I just think the fact that Goldman pulled out in the US has delayed their expansion plans.
Apple Pay by itself is basically a “proxy” to your existing credit card. With Apple Cash, where do you think your funds are “stored”? You’ll need to partner with a bank as well (similar to how PayPal is also a bank).
Oh yeah I know, I didn’t mean to imply otherwise. More clearly:
Apple Card is slow to expand because of the requirement to have a bank partner in the region you want to expand to, and Goldman pulling out of the Apple Card partnership has probably delayed the expansion plans because stabilizing the US operations are probably the priority.
Apple Pay didn’t expand for years because they were stabilizing relationships in the US and convincing partner networks to give them their cut, which eventually they did.
I suspect once operations are stable, they will start to expand Apple Card and Apple Pay Cash.
Expanding Apple Pay Cash is way easier though, because it’s stored value. That’s business that everyone wants to be in. They’re just holding your cash and earning interest on it. Apple Card is more complicated because there is debt and risk.
The incentive to expand to Canada specifically is low as well because “cash apps” like CashApp, Venmo, etc have no presence here because we have a robust, fast and free Interac e-transfer system which is so embedded, people paying $1 to send money isn’t much of a market.
I still think we’ll see it eventually, but yeah I’m not holding my breath.
But yeah, I don’t even see it on the horizon. Even features Apple should have full control over take years to become available in more than a handful of countries. For example, AI sentence completion is only available in English and a handful of other languages. Voicemail live transcriptions are US only afaik. The list goes on. Apple has a page somewhere listing what’s available in which countries and there’s definitely a sizable amount of features absent from non-US markets.
Oh well, I guess we got updated Maps and “street view” in my country, so that’s something.
You need to have a partnership with a bank to run Apple Card in another region, it’s not a simple thing to expand. However Apple Pay was US exclusive for a long time and it still expanded. I think it’s possible, I just think the fact that Goldman pulled out in the US has delayed their expansion plans.
Apple Pay by itself is basically a “proxy” to your existing credit card. With Apple Cash, where do you think your funds are “stored”? You’ll need to partner with a bank as well (similar to how PayPal is also a bank).
Oh yeah I know, I didn’t mean to imply otherwise. More clearly:
Apple Card is slow to expand because of the requirement to have a bank partner in the region you want to expand to, and Goldman pulling out of the Apple Card partnership has probably delayed the expansion plans because stabilizing the US operations are probably the priority.
Apple Pay didn’t expand for years because they were stabilizing relationships in the US and convincing partner networks to give them their cut, which eventually they did.
I suspect once operations are stable, they will start to expand Apple Card and Apple Pay Cash.
Expanding Apple Pay Cash is way easier though, because it’s stored value. That’s business that everyone wants to be in. They’re just holding your cash and earning interest on it. Apple Card is more complicated because there is debt and risk.
The incentive to expand to Canada specifically is low as well because “cash apps” like CashApp, Venmo, etc have no presence here because we have a robust, fast and free Interac e-transfer system which is so embedded, people paying $1 to send money isn’t much of a market.
I still think we’ll see it eventually, but yeah I’m not holding my breath.
Makes sense.
But yeah, I don’t even see it on the horizon. Even features Apple should have full control over take years to become available in more than a handful of countries. For example, AI sentence completion is only available in English and a handful of other languages. Voicemail live transcriptions are US only afaik. The list goes on. Apple has a page somewhere listing what’s available in which countries and there’s definitely a sizable amount of features absent from non-US markets.
Oh well, I guess we got updated Maps and “street view” in my country, so that’s something.