Executive Pay: The Curious Case of Carlos Ghosn’s Arrest
February 12, 2025
Taxation is a hotly debated subject all over the world. There are supporters of capitalism who already believe that the rich are being taxed too much. On the other hand, there are supporters of socialism who cite increasing wealth disparity and argue that the rich should be taxed even more. The idea that the rich […]
To survive and grow your business in the current times, you have got to learn the ropes of business once again. If you look at the market, you will see a lot of brands and organizations that were in the fore front in the last few decades no longer exist. The leadership in the market […]
Financial accounting module of an ERP package provides company wide control and integration of financial information. This module provides the ability to centrally track financial accounting data within a framework of multiple companies, languages and currencies. The General Ledger (GL) module is the heart of finance package of an ERP system. Through integration with logistics, […]
The modern human society is hooked on electronic devices. As a result, there is an ever-increasing stream of televisions, computer screens, mobile phones, and cameras which are being thrown out since consumers want to upgrade to a newer version. This is generating a new type of waste called e-waste or electronic waste. In this article, […]
There are some nations in the world who manufacture their own defense equipment. However, a majority of the countries outsource their production activity to private companies abroad. Companies like Lockheed Martin are known to extensively take contracts from foreign governments. Regardless of whether the money is spent locally or given to foreign contractors, the amount […]
Apple Inc. which is the most valuable company in the world is known for selling high tech products. Over the years, Apple products have become a cult following, and many consumers blindly purchase whatever new products the company introduces.
This time Apple has surprised its investors and customers. All analysts were expecting the company to unveil some kind of shiny new gadget or mobile app.
However, Apple has decided to dilute its focus and diversify. Apple surprised the world by offering a financial services product, i.e. the ’credit card.“
The Apple credit card is no longer a figment of the imagination. Instead, it is something that consumers will be able to use very soon.
In this article, we will have a closer look at some of the features of Apple credit cards as well as the reason behind the company’s venture into this new service line.
Apple has made an attempt to redesign how credit cards work. It needs to be understood that Apple is the main brand that will power the sales and distribution of this credit card.
However, Apple is not launching this card alone. The company has partnered with other financial bigwigs such as Goldman Sachs and MasterCard. Goldman Sachs will provide the banking know-how to enable Apple to run a successful credit card business.
At the same time, the alliance with MasterCard will make the product more acceptable. Apple has announced that its credit card will work at all online as well as offline locations wherever MasterCard is accepted.
Some other salient features of the Apple credit card will be as follows:
Also, many credit card companies hike interest rates whenever customers miss payments. Apple will not be following that practice. Apple will continue to charge the 13% to 24% interest on the outstanding balance even in the case of a missed payment.
Hence, other details like the card number, expiration date, and the CVV code will not be printed on the card.
Some of the above features provided by Apple credit card and pretty exceptional whereas many others are simply run-of-the-mill. However, the more important question is that why is Apple venturing into the credit card domain.
Apple is confident that its stellar brand loyalty will help make its credit card an instant success.
This is the first time that Apple is using its brand to sell something which is not technical. Hence, it would be interesting to see whether this brand extension dilutes the brand equity of this humungous corporation.
Apple’s foray into the credit card business is an interesting turn of events. If the company succeeds with the credit card business, it may also foray into a lot of unrelated businesses and will ultimately morph into a conglomerate.
Your email address will not be published. Required fields are marked *