Join Date: Feb 2015
Location: UK's most densely packed city. It's not London...
Apple is banking (tee hee) on phones becoming the carrier of digital currency, the establishment of a banking enterprise in the form of a credit card company makes complete sense if at first quizzical. No one needs to sign up for this for Apple to develop a talent pool in banking.
You can ask yourself if this is relevant to a hardware manufacture. But Apple is also a vertical monopoly (or as near to it as possible)... and contracts with other banks to offer their services are going to affect the bottom line eventually when they could be profiting off of their own banking enterprise.
Apple is a huge corporation and I've been waiting for this form of diversification for a while. It's going to cause problems in other aspects of the corporation (as it always does) but this is how Apple, the company, innovates itself...