Swiss bank UBS announced that it will be supporting Apple Pay in the near future as it gradually rolls out to customers in the next few weeks.
Wells Fargo is offering its customers US$5 if they use Apple Pay at an ATM. The offer is valid until March 5, 2021.
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By 2025 Apple Pay could account for 10% of global card transactions. Currently the service accounts for 5%.
David Murphy has a good tip: Create an email filter for your bank so you don’t miss important messages like fraud alerts.
Get specific when you set your filters, because you don’t want to accidentally drag in phishing emails that are attempting to pose as your bank. This shouldn’t be a problem if your email service is good about eradicating spam but, when in doubt, I’d probably try to set a combined filter for emails from your bank’s exact domain that contain the word “fraud,” rather than just a filter that catches subject lines with “your bank’s name” and “fraud.”
Calling it a bug, mobile-only bank Monzo logged PINs inside encrypted internal logs under certain conditions, and some employees had access.
Goldman Sachs is excited that Apple Card will “push the brand into the mainstream” and hopes customers will buy a lot of Apple products.
New York-based bank Goldman Sachs isn’t usually associated with average consumers. But it has spent US$1.3 billion to transform itself with initiatives like Apple Card (via CNBC). Goldman Transformation So far in 2019 Goldman Sachs has spent US$275 million on its new businesses like Apple Card and its consumer bank Marcus. In an earnings call…
PayPal Instant Transfer is launching in the United States. It lets people instantly transfer money from PayPal to their bank.
Wall Street was surprised when Apple chose to partner with Goldman Sachs. According to a new article by WSJ, other financial institutions like Citigroup and JPMorgan Chase offered their services to Apple as well.
Goldman can’t do it on its own either. It is new to consumer banking, having spent most of its 150-year history catering to big companies and billionaires. Without branches, it needs other ways to find customers for its online savings and lending business. Apple, too, needs new engines of growth as iPhone sales slow.
Germany may finally be getting on board with Apple Pay, and it could happen as soon as next month.