Apple is actively developing financial services, preferring to provide some of them directly without the mediation of banks. Among the promising projects in this area is a subscription to smartphones, which would allow customers to receive a new device for use for a monthly subscription fee, but so far the implementation of this plan has been postponed indefinitely.
According to Mark Gurman, the author of Bloomberg publications traditional for this part of the week, Apple originally planned to launch such a subscription at the time of the debut of the iPhone 13 family in 2021 or the iPhone 14 family in 2022, but the implementation of the project “suffered from engineering and technical delays that slowed progress and prevented meeting the target dates”. Although Apple does not refuse to implement a subscription to the iPhone, it is difficult to talk about new terms.
It was assumed that Apple’s subscription program did not simply divide the cost of the device into 12 or 24 parts in equal proportion, depending on the contract term. The amount of the monthly fee had to depend on the device model that the client chose. Over time, according to the source, Apple generally intends to take over many of the financial transactions of its customers, including issuing invoices, confirming transactions and maintaining their history. So far, all this is carried out by the partners of the company.
At least three more financial technology initiatives are brewing in the bowels of Apple. The Apple Pay Later installment program was announced in June, but after repeated delays, it may be available to customers in March or April of this year. The service is currently in beta testing among Apple employees in certain regions of the United States. The company also intends to offer customers savings management and installment payments for various purchases. In the future, branded Apple Card should be offered to customers outside the United States. When these services will be brought to mind, it is difficult to predict.
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