Fortune has published its Global 500 list of companies. Apple ranked twelfth place in revenue making US$260.174 billion.
Apple is treating Apple Card as a service, not just a physical product, and will continue to add merchants to its 3% Daily Cash program.
Apple hired economists from the firm Analysis Group who said in a study that the company’s fees are similar to competitors.
Apple announced today that in 2019 the App Store supported US$519 billion in billing and sales globally.
Bill organizer app Chronicle saw a big 12.0.0 update yesterday. It brings a bunch of new features like adding and managing income in the main list of bills. The interface has been overhauled to make the app more information dense on the iPad. Accessing and filtering bills by tags is more clear and more consistent. It’s also easier to show and hide the calendar. There are plenty of other changes to this update, so if you’ve been looking for a bill organizer I personally use and recommend Chronicle. App Store: Free (Offers In-App Purchases)
Over the past decade, our financial transaction data has become one of the most sought-after data sets. Credit card processors like American Express, Mastercard, and Visa are at the center of it.
All of this is happening under a veil of secrecy. Credit card companies may acknowledge that they make money from analyzing transactions, but they are vague about what data they actually share […] Even Apple, which prohibits Goldman Sachs from using its card data for marketing purposes, couldn’t get the same concessions out of Mastercard, its card network.
Here’s a link to the study mentioned in the article, where MIT researchers successfully de-anonymized financial data that these companies claim had privacy protections.
Continuing its actions from March and April, Apple and Goldman Sachs are allowing Apple Card deferred payments to be extended through May.
So right away, the answer to my headline is “probably not.” The article I’m linking to says language of digital dollars was removed from the final version of the stimulus package. But I think it’s worthwhile to think about.
The bill establishes a digital dollar, which it defines as ‘a balance expressed as a dollar value consisting of digital ledger entries that are recorded as liabilities in the accounts of any Federal Reserve Bank or … an electronic unit of value, redeemable by an eligible financial institution (as determined by the Board of Governors of the Federal Reserve System).’
Now may not be the time to introduce entirely new technologies, especially if they slow the release of the package. But I personally like the idea, although I don’t advocate for a completely cashless society as I’ve mentioned before.
France’s competition authority is fining Apple, saying the company engaged in anti-competitive behavior in its distribution and sales network.
We’ve found five Mint alternatives if you want an app to manage your finances, or you’re a Mint user and you’re looking for something new.
Financial services giant Inuit, which has products like TurboTax and Mint, is close to a deal to buy Credit Karma for US$7 billion.
There is a potentially significant business opportunity for Intuit if it completes a deal. For example, Intuit could try to match all the tax data its TurboTax customers provide with the credit-scoring data that Credit Karma holds.
That could let Intuit serve up better customer prospects to credit card issuers — and eventually let Intuit charge lenders more for access to its hoard of data.
Yodlee is the biggest financial data broker in the U.S., and it routinely sells your credit card data to investment and research firms.
The Yodlee document describes in detail what type of data its clients gain access to, how the company manages that data across its infrastructure, and the specific measures Yodlee takes to try and anonymize its dataset…Once logged into Yodlee’s server, clients download the data as a large text file, rather than interacting with the data in a dashboard or interface that stays solely within Yodlee’s control, according to the document.
By 2025 Apple Pay could account for 10% of global card transactions. Currently the service accounts for 5%.
Apple Card now supports the ability to export financial transactions to Open Financial Exchange (OFX). This is what apps like Mint support.
Apple Card iPhone financing is here for unlocked iPhones but the fine print says you’ll still need an account with one of the major carriers.
Curve is an app that gives you a prepaid Mastercard that you can load on demand, and it just added support for Apple Pay.
At first Apple Card was locked down from money management apps, but there’s now a middle ground: Export Apple Card data to a spreadsheet.
A report from Consumer Intelligence Research Partners (CIRP) shows that the iPhone 11/Pro/Pro Max dominated sales for Q4 2019.
During an earnings call for Goldman Sachs, chief financial officer Stephen Scherr reiterated his bank’s control over Apple Card.
Ireland’s Prime Minister Leo Varadkar is presenting an award to Tim Cook to recognize Apple’s 40 years of investment in the country.