One of the most used functions of the iPhone in recent years is Apple Pay. It is something very comfortable. It allows us to add our credit cards to the iPhone for be able to pay securely with Touch ID or Face ID. It is also faster than paying in the traditional way, since since the use is already authenticated with our face or our fingerprint, it is not necessary to enter a PIN code.
This evolved into the Apple Card. A typical Cupertino credit card that integrates into the ecosystem in a very simple way. Not so long ago, they launched their own savings account, and something that previously seemed absurd is becoming increasingly apparent: Apple wants to have its own bank.
They don’t want to be a bank. they already are
According to Mark Gurman, Apple is working to make iOS 17 able to show credit for all your cards in the Wallet app, whether they’re from Apple or not. The idea is centralize everything so that you depend less and less on your bank and you can do everything much faster.
Perhaps this is a way to continue to develop this app which was once only used to use your cards and which even today allows you to open a savings account, at least in the United States. This is the logical progression. If Apple manages to unify all our banking movements in a single application, It will not take long for us to offer this same application to become our bank.
They already have savings accounts and credit cards. It needs to go global, cover some regulatory issues, a few more products, and that’s it. Apple doesn’t want to be a bank because it’s already a bank. Perhaps unconventional or complete, but it would be absurd to deny that at this point.
There’s nothing left for iOS 17 to present at WWDC23 this Monday. Perhaps then we have a few more clues as to where Apple is headed in this regard. For the moment we are satisfied with what we know, that is to say that if those of Cupertino are not already a bank, they are close to being.
In Applesphere | Apple Pay: what it is, how to buy and pay and which cards are compatible
