Apple announced more details about their card partnership with Goldman Sachs yesterday and the news provided a number of interesting opinions from the UK fintech community; Barclays Global Head of Digital Strategy and former Chief Platform Officer at Starling Bank Megan Caywood said the move validated the challenger bank playbook but there is concern that when the partnership goes global it could threaten banks and fintechs; David Brear, group CEO of 11:FS, tells AltFi, “They have the capability to compete in one swoop with not only credit card companies but challenger/incumbent banks, loyalty programmes and P2P payments companies, which in the US with the likes of Venmo, are a huge deal.”; Revolut responded by saying game on, the news certainly got everyone’s attention and is sure to continue driving the conversation. Source.
