- Last Active
I never understood what Apple brought to the table in this deal, other than their logo. Apple is just the distributor. The card is issued by GS; credit extended by GS; cash-back paid by GS; billing, customer service, etc. provided by GS. This is just a white labelled credit card, with a good app - there are plenty of these in the world, all of which can be added to Apple Wallet. GS wanted to make the deal because as a newcomer to the CC market, which has very high marketing costs, they saw a lot of value in Apple distribution, but I doubt any established card issuer will see it this way.
I would venture that the wrist is a better place for such a device than on a jumper, for various reasons. But besides that, their premise of a post-App world is truly exciting. Apps/algorithms would obviously still exist, but AI acts a consolidation layer, and it could mean that all apps were always available to all users, and the AI decides what to use for which purpose. Interesting, at least.