Source: ARK Disrupt Issue 124: May 14, 2018. By @bhavanaARK

In a push for customer acquisition, Apple and Goldman Sachs announced plans to launch Apple Pay Credit Card as they aim to strengthen both Apple Services and Goldman’s consumer-facing business, Marcus.

As of the end of the first quarter, Apple Pay had scaled its customer base to 127 million, with fast-paced adoption in emerging markets like China and Russia. Apple Pay is focused on its role as a “wallet” in the transaction funnel but, in partnership with Goldman Sachs, also hopes to offer in-store loans and interest free financing to bolster sales of iPhones and other Apple products.

In a move away from investment banking, Goldman is supporting Marcus to blanket the consumer business, offering savings accounts, loans, and now Apple credit cards. Apple should help Goldman lower customer acquisition costs, lessening its reliance on personal finance management apps like Intuit, Credit Karma and Clarity Money.

View original article and other research here.

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Fred Pye

Frederick T. Pye


Frederick T. Pye is the Chairman, Chief Executive Officer and Director of 3iQ Corp. He is also the Chairman and Director of 3iQ Digital Holdings Inc. Mr. Pye is recognized for creating and promoting creative and unique investment products for the investment industry.

Mr. Pye has managed private client portfolios with Landry Investment Management and various other investment dealers. Prior to this Mr. Pye was Founder, President & Chief Executive Officer of Argentum Management and Research Corporation, a company dedicated to managing and distributing quantitative investment portfolios including the first long-short mutual fund in Canada.

He was also Senior Vice-President and National Sales Manager of Fidelity Investments Canada and an integral part of the team that saw assets rise from $80 million to over $7.5 billion in assets under management during his tenure. He also held various positions with Guardian Trust Company, which listed the first Gold, Silver and Platinum Certificates on the Montreal Exchange.

Mr. Pye obtained a Masters in Business Administration from Concordia University.