Breakingviews - Apple Card puts customer first, Goldman second

Apple launches Netflix for news with Los Angeles Times Wall Street Journal participating

Apple announced a new digital credit card service for iPhone users this week in what CEO Tim Cook described as "the most significant change to the credit card in 50 years". The Animoji app from Apple allows users to use their face to control an animated emoji on their device, and talk, and record it all to send as a message.

An exciting feature of the Apple Card is the use of a machine-learning including Apple Maps that is capable of labeling their transactions with the merchant names and its location. But they will earn cash back on their purchases - 3 per cent on Apple purchases, 2 per cent on those with the virtual card and 1 per cent with the physical card.

Purchases are automatically totalled and organised by colour-coded categories such as food and drink, shopping and entertainment. Goldman Sachs and Mastercard are the associates in the card business of Apple. A physical Apple Card made of Titanium will also be offered. As long speculated, now finally confirmed, Apple's service will count with original TV shows, movies, and documentaries, from Oprah Winfrey, Steven Spielberg, Jennifer Aniston, Reese Witherspoon, Octavia Spencer, J.J. Abrams, Jason Momoa, M.Night Shyamalan, Jon M. Chu and more. With Apple's hardware sales said to be starting to slow down, the company is likely looking to pick up new momentum by selling subscriptions to its online services. The subscription plans for Apple+ have not been revealed yet. We will have to wait and see.

According to MacRumors' breakdown, Apple TV's new app is available for iPhone, iPad, and Apple TV users running the 12.3 update.

The Journal, famous for its business and industry coverage and commanding almost $40 a month, will feature "specially curated" general-interest news available for Apple customers. Apple TV channels include HBO, Starz, SHOWTIME, CBS All Access, and the Smithsonian Channel.

Apple, second only to Microsoft Corp in market value among tech giants, led off the event with an announcement that its free news app will now come in a paid-subscription version, called Apple News+, which curates a range of news articles and will include 300 magazines including National Geographic, People, Popular Science, Billboard and the New Yorker. "We're committed to supporting quality journalism, and with Apple News+, we want to celebrate the great work being done by magazines and news outlets", said Lauren Kern, editor-in-chief of Apple News. Apple's video product-and new streaming services from AT&T, Comcast and Disney-will have to compete with existing platforms like Netflix, Hulu, YouTube and Amazon Prime Video.

We only have a few titles confirmed for Apple Arcade so far - Sonic Racing and Sayonara Wild Hearts among them - with no details on pricing.

A boost for Apple Pay: it looks like this will be much needed - currently, Apple Pay is used by less than half of all global iPhone users, so it is no surprise Apple is innovating to penetrate more of this potential market.

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