Apple's release of a credit card is being viewed as highly significant by banks.
In future financial services could be based around platforms and partnerships.
Younger customers are increasingly wary ofgetting caught in credit card debt.
On one level, it was just another Apple product launch last week. Cupertino … The Steve Jobs Theatre … High production value razzle dazzle.
But on another level, this Apple event was very different. The focus wasn't on hardware, it was about services; television, other media and – financial services.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
