Apple has changed the game once again! Apple recently released their Apple Credit Card and they are saying that it the first of its kind. The card is a smart card, it is housed on your iPhone but you also receive a physical card except that the card will not have any card numbers on it or a security code on it so that it provides the consumer with more privacy and security.
The Forbes articles discusses the three surprising ways the Apple credit card is changing the market and it is different than any other card that is currently in the public’s hands. One of the ways that the credit card will change the market is that the credit card is tech savvy; the company “focused on providing a digital-first experience that puts the customer front and center”. I think for that reason in particular, the card will be extremely appealing to millennials because at this point, technology is what the younger generation is used to.
The second and third reasons go hand and hand and they are credit card issuers will start to add additional features to try to mirror the Apple card and the credit card issuers will rethink the ways they are currently doing business. For years, Apple have led the change for technology and we continuously see many companies play catch up and try to mirror features on Apple products and I don’t expect that not to happen with this new Apple item.
I always enjoy seeing Apple come up with new products that change the game for that particular market. Apple is extremely good at telling consumers what they need even when the consumers don’t realize it at the time.