Trademarks aside, I feel like this is the clincher. They really would have no need for this if they weren’t launching here or the EU - we’ve implemented GDPR directly so rules are still the same.
4 Likes
Yeah I know nothing’s changed yet on the data protection side.
Financial regulation side, again, no major changes yet that I know of. Although lots of rumbling about the gov DE-regulating the sector, despite the city literally saying they don’t need it (allegedly pretty big consensus on that).
And I guess if they’re launching with a partner (whether Goldman or otherwise) that shouldn’t change tooooo much.
I had been imagining it would be a UK launch first/separately(?) as opposed to an EU wide one, and so on that basis things shouldn’t have shifted too much in a regulatory sense (in that they won’t have to do everything twice etc). But I suppose things have still shifted in all sorts of ways and they might be waiting to see what happens and what else we change in the coming months/years?
1 Like
Yes, I imagine this too.
The U.K. and Canada have always been primary markets for Apple, then Australia and New Zealand. Everywhere else always seems to come later.
I also believe that Apple Cash will launch anywhere the card launches - it might be at lower rates than elsewhere, but cashback at the Apple Store is a definite feature of the card, I would suggest, even if provided at a slight loss to encourage overall usage.
They will also want to be launching in markets where card usage is high, so I would be surprised if the U.K. isn’t high up the list.
3 Likes
Will Apple Card have to be compliant with the open banking API? Or does it depend what bank they partner with?
I think any payment account card/offering in the UK would now need to comply.
1 Like
Probably the best place for this: Apple Working on 'Apple Pay Later' Feature With Monthly Installments for Apple Pay Purchases - MacRumors
Not Apple Card per se but Apple getting into the Klarna/PayPal credit game.
4 Likes
Oh for sure, but we can dream right 
Interestingly this is not tied to Apple Card, so I think this has more chance of making it over here than the card does.
I was thinking the same too.
But I do note the rumour says it’s still with Goldman, so whilst I have no idea how these things work, sounds like an extension of their existing relationship and credit offering etc. So am gonna keep my hopes very low for a while.
3 Likes
Apple has long offered 12 months interest free with Barclays too.
3 Likes
Good point 
Monzo trialled spread the cost, what, 3 years ago? Something like that anyway
3 Likes
I would guess everyone is just copying Klarna as that has been very profitable, and successful in getting younger people into ‘hidden’ debt, which then links back to profitability.
1 Like
So I’ve never used Klarna but I did see something on BBC News about how they don’t credit check before allowing (essentially) credit to be issued?
Unless they’ve changed that.
Is the risk on Klarna there then? If you’re not “officially” taking on credit, what is the process for when someone defaults/doesn’t pay?
3 Likes
Some info on the methodology here: https://www.klarna.com/uk/blog/does-klarna-impact-my-credit-score/
And some other info here https://www.klarna.com/uk/customer-service/what-happens-if-i-dont-pay-for-my-order/ which the short version is that it can go to debt collection. Only the financing products (as opposed to instalments) would be reported on credit report.
1 Like
Brilliant thanks.
So for their general product, you can’t really damage your credit report.
3 Likes
I think generally with Klarna it’s not much of a risk because if they share the risk with the retailer the actual cost of the goods to the business itself is very low - at least with things like clothes. If something doesn’t get paid for, they’re not going to let you use Klarna again, they haven’t lost out on that much.
1 Like
Meanwhile…
Still paying off the clothes long after they’ve stopped wearing them.
2 Likes
How much clothing are people buying?! 9 months?!
3 Likes
Probably buying Manolos, innit. 