• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Monday, May 19, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Apple to build its own financial infrastructure for payments and lending

by Disha Mitra
March 31, 2022
in Business, Mobile, Tech
Reading Time: 2 mins read
0
Apple

Source: Bloomberg

TwitterWhatsappLinkedin
Apple
Apple planning to develop its own financial infrastructure.
Source: MacRumors

Reports specified how Apple Inc is planning to develop its own in-house infrastructure and technology of financial services. Internally, the main plan is codenamed “Breakout,” creating an allusion. That is, to the idea of customers ‘breaking free’ from the present establishment players of the financial field.

You might also like

Delhi High Court Sets Aside Arbitral Award in OYO-Zostel Dispute

Mohini Mohan Dutta to Inherit ₹588 Crore as Estate Proceedings Move Forward

Colorbar Cosmetics Sets Sights on IPO in 2027 After Doubling Revenue Goals

The tech giant has often been keen on controlling as much of the user experience as possible. They believe that this way provides them with additional advantages. These include better experiences for users, along with a more revenue for the company. Moreover, this control also proves that Apple would be less impacted by sudden actions of their external partners.

Currently, Apple is set to appropriately apply this philosophy to its financial services too. Clearly, it is a rather fast growing, though relatively new, aspect of the tech giant’s entire product strategy. The report described the crucial aspects of the plan. It would involve processing of payments, credit checks, and analysis for potential fraud. Along with it, it would also include risk evaluation for lending and added functions surrounding customer-services, like management of disputes.

Other aims of the tech company:

Sources mentioned how Apple’s step to integrate all of these services in-house is aimed for newer products rather than the ones already existing. For example, the Apple card may continue to stick with Goldman Sachs. On the other hand, the company has other plans for features like its Apple Pay Later system. At first, the tech giant may work with a partner for certain aspects such as long-term loans. This would be while it uses its own technology and infrastructure for short-term loans.

Apple named it Apple Pay Later technology as one of the features to which it will apply these new plans. Additionally, the company has other, newer financial products in progress as well. For example, it includes a subscription service bundle for its iPhones, along with certain other services of Apple.

The tech giant’s increasing emphasis on its financial services indicates its future plans. It reflects Apple’s effort to shift from the so-called “hit-based” business to a more consistent, recurring revenue generating one from its users. The ‘hit-based’ business refers to the instance of a new Apple product that may or may not generate as big a demand as anticipated. This might occur because of numerous reasons, some of which might be beyond the company’s control.

 

Tags: AppleApple Payfinancial infrastructurepayment methodstechnews
Tweet54SendShare15
Previous Post

Delhivery Likely To Launch IPO In Q1 Of Next Fiscal As Market Sentiment Improves, Says Report

Next Post

Car rental company Kyte launches Model 3 rental services in the US

Disha Mitra

Recommended For You

Delhi High Court Sets Aside Arbitral Award in OYO-Zostel Dispute

by Ishaan Negi
May 19, 2025
0
OYO Faces FIR Over Alleged Fake Bookings and ₹2.66 Crore GST Notice in Jaipur

In a major ruling that underscores the importance of clarity in commercial agreements, the Delhi High Court has allowed a petition filed by Oravel Stays Pvt. Ltd. (OYO),...

Read more

Mohini Mohan Dutta to Inherit ₹588 Crore as Estate Proceedings Move Forward

by Ishaan Negi
May 19, 2025
0
Mohini Mohan Dutta to Inherit ₹588 Crore as Estate Proceedings Move Forward

In a significant legal and emotional milestone, Mohini Mohan Dutta — a long-standing associate and close confidant of the late industrialist Ratan Tata — has formally consented to...

Read more

Colorbar Cosmetics Sets Sights on IPO in 2027 After Doubling Revenue Goals

by Ishaan Negi
May 19, 2025
0
Colorbar Cosmetics Sets Sights on IPO in 2027 After Doubling Revenue Goals

Colorbar Cosmetics, one of India’s oldest homegrown beauty brands, is gearing up for a public debut in early 2027. With a strong focus on innovation, store expansion, and...

Read more
Next Post
Car rental company launches Tesla fleet in CA, NY, NJ with Model 3 for $995 per month

Car rental company Kyte launches Model 3 rental services in the US

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?