Apple Card

Doesn’t the daily cash back come in the form of Apple Pay Cash though? Unless you know the UK card won’t be getting daily cash back.

Whether Apple would think so or not, I feel like Monzo’s won that.

No reason for me to open messages to send cash when I could just keep doing the super simple thing we already have.

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This functionality is open to banks too! Only N26 and cash app support(ed) it in the U.K. though.

The question is whether or not the U.K. will even get this feature. I personally don’t think we will given how different things are here, though I’ve not heard anything one way or the other, nor have I asked actually. We don’t have free credit cards with features like that in the U.K. for a reason, meanwhile they’re relatively common in the US.

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Messages may trail WhatsApp in the UK, but I’m fairly sure it’s user base must still dwarf Monzo’s.

Fair points but I still disagree with you and 100% don’t think a UK Apple Card is on the way, especially any time soon.

Monzo have an opportunity to take charge as the bank to offer Apple Card to the UK, do you think they’d take it?

I think Apple would chose a legacy bank.

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As Monzo don’t operate a Banking-as-a-Service platform, I’d say not.

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But maybe Starling?

Called it two years ago:

But there are so many BaaS platforms these days. Thought Machine has a few high street banks on it already.

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Goldman Sachs already offer consumer services in the UK and have a tech stack with Apple.
That would be the obvious choice.

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The idea that it won’t be Goldman’s running it elsewhere in the world is for the birds, I just don’t think Apple see where the money will be made on it in the UK or the EU with such low interchange rates

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Another reason why I 100% believe the Apple Card isn’t coming to the UK.

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Depends on what their expectations for the future are. MasterCard already raised interchange on UK cards being used on EU e-commerce sites, after all, so if Apple and Goldman Sachs expect that to happen for in-person shopping after the pandemic as well, then there’s still some money to be made.

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It’s nowhere near the levels of US interchange even at the 1.5% for cross the channel transactions, the EU isn’t going to shift up, and there isn’t appetite in the Treasury to go to US levels.

Somewhere looser on interchange will be next, like Canada or Australia