Apple wants to be your bank and the iOS 17 Wallet will be the best example

2023-06-02 17:00:42

One of the most used functions of the iPhone in recent years is Apple Pay. It’s a very comfortable thing. It allows us to add our credit cards to the iPhone to be able to pay securely using Touch ID or Face ID. It is also faster than paying in a traditional way, because since the use is already authenticated with our face or our fingerprint, it is not necessary to enter any pin.

This has evolved into the Apple Card. A credit card typical of those from Cupertino and that integrates with the ecosystem in a very simple way. Not long ago they launched their own savings account, and something that before seemed absurd is becoming more and more obvious: Apple wants to have its own bank.

They don’t want to be a bank. they already are

According to Mark Gurman, Apple would be working so that iOS 17 can show the credit of all your cards in the Wallet app, whether they are from Apple or not. The idea is centralize everything so that you depend less and less on your bank and you can do everything much faster.

Perhaps it is a way of continuing to evolve this app that one day was only used to use your cards and that now even allows you to open a savings account, at least in the United States. It is the logical progression. If Apple manages to unify all our banking movements in a single application, It won’t take long for us to offer that same app to become our bank.

They already have savings accounts and credit cards. It needs to expand to the whole world, cover some regulatory issues, a couple more products and that’s it. Apple does not want to be a bank because it is already a bank. Perhaps not a conventional or complete one, but it would be absurd to deny it at this point.

There is nothing left for iOS 17 to be presented at WWDC23 this Monday. Perhaps then we have some more clues about the direction Apple is taking in this regard. At the moment we are satisfied with what we know, and that is that if those of Cupertino are not already a bank, they are close to being one.

In Applesphere | Apple Pay: what it is, how to buy and pay and which cards are compatible

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