Guess which technology company tends to revolutionize what is already here? Remember the iPod? It arrived when many music players dominated a fragmented market. Remember the iPhone? It was one among many smartphones of the era. How about iPad? Apple Watch? Apple Music? AirPods? The list goes on.
Apple has the interesting tendency to revolutionize what already exists in the marketplace. Next up is Apple Card.
How will Apple revolutionize what everyone already has?
Boy genius, Andy Meek:
The Apple Card is so much more revolutionary than you think
That would be easy to accomplish since I don’t think of credit cards as being anything different than they’ve been for decades, and everything I’ve read about Apple Card tells me there is no revolution waiting to be dropped onto humankind.
At least, no revolution the likes of Mac, iPod, iPhone, iPad, Watch, or AirPods. Those are some hefty hardware businesses. Apple Card is there to take advantage of Apple’s 1-billion or so customer base.
- Better interest rates? Nope.
- Sign up bonus? Uh uh.
- Super high credit limit? Ha!
That’s it. Those are what we really want, right?
Instead, Apple plans to do a few things that are done already with other credit cards, and drop in a few other features to make it attractive, and then put Apple’s famous privacy and security spin on the whole package.
That will revolutionize the credit card business because Apple is so successful at everything it does, the rest of the industry will follow.
What will Apple do?
- Cash back; daily – cool!
- Better security – no number.
- Better privacy – information not shared.
- Instant stats – know what you spent and where with a tap or two
- Instant acceptance or rejection
We’re done here. Move along. Nothing else to see.
What is so revolutionary about Apple Card? Other banks have similar features, but as usual, Apple focused on the ones that actually matter to users rather than to banks. Apple’s brand is the enticement, simplicity is what captures the imagination and loyalty, and ease-of-use gets customers into a typical Apple habit.
Win, win, win.
In one year you will see dozens of major credit cards copy Apple Card and add even more features for customers.
Another win. Thank you, Apple, for yet another revolution that benefits customers who can afford to play within the walled garden ecosystem (but others get a benefit as competition feels the heat).