Apple Card gives Goldman Sachs a rare customer role

“Apple Inc. launched a credit card last month, hoping to upend a $175 billion industry much like it did the phone business. At a splashy event, the company made a simple sales pitch and showed off the titanium product in a slick video,” Mark Gurman and Jennifer Surane report for Bloomberg. “Chief Executive Officer Tim Cook called it the ‘most significant change’ to cards in 50 years.”
“Apple, and partner Goldman Sachs Group Inc., are relative newbies to consumer credit. Apple has dabbled through its mobile payments service Apple Pay. Goldman offers Marcus personal loans,” Gurman and Surane report. “Now, both companies must learn quickly to master the messy process of payment disputes, customer service and statements.”
“Goldman will handle disputes. That’s common for co-branded credit cards. But it’s rare for Apple to let another company work with its users. The Cupertino, California-based tech giant prefers to manage the end-to-end experience of all its products, including customer interactions,” Gurman and Surane report. “Apple is tapping its iMessage texting service to help Goldman. That may handle simple issues like changing an address. There’s also a click-to-call feature in Apple’s Wallet app. That will put users through to an Apple support representative. But if there’s a dispute, the Apple rep will pass the caller to Goldman to resolve the issue.”
Apple’s physical laser-etched titanium Apple Card
 
Read more in the full article here.
MacDailyNews Take: Apple Card will be a smashing success!
“Yes, we want that physical card. We’ll use the digital card via our Apple Watches whenever possible, of course (more cash back), but we want that titanium, laser-etched card!” – MacDailyNews, March 25, 2019