Paymentgal Blog

credit card (4)

The co-branded card market in the US is a well-oiled machine with large enterprise issuers like American Express, Chase, and Capital One working with large enterprise retailers like the Delta, Marriott, and Kohl's. Apple Card has broken new ground in shifting these relationships; taking over control of key issuing functions like underwriting in the quest to get a credit card in every wallet - literally. US issuers are taking note, most recently Bank of the West partnering with Brex for their new co-brand corporate card.
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Apple Card is About Apple, Not Credit

The Apple Card is so much more than mere credit card. It's Apple's entry point to delivering real financial services to consumers through its iPhone Wallet. This strategy is based on becoming the centralizing agent for financial services and in my opinion, that's the future of competitive banking services. Piece by piece, Apple has been quietly building out its wallet to become not just usable, but indispensable. This is the big threat for traditional financial institutions and their depository accounts, not the credit card. Apple doesn't quite have all the puzzle pieces in place yet, but the Apple Card has pushed their strategy way down the road.
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The Changing Face of Credit Card Features

Anyone in the credit card business will tell you that rewards drive card applications and usage. But as the ability to more finely tune offers and card features grows alongside consumer's knowledge of how to leverage these offers, the market is entering a new phase in portfolio management, where success and profitability is weighed against more than just absolute cardholder numbers.
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