Speaking on the Apple Q2 2019 earnings call, company Chief Executive Tim Cook has stated that ‘Apple Card’ will advance the firm’s ‘vision of replacing the wallet’.
Announced last March at the firm’s innovation summit, Apple Card sees the tech giant undertake its first play on the financial services sector, in partnership with Mastercard and Goldman Sachs.
Inbound for summer 2019, Tim Cook details that importance of Apple Card as a day-to-day product that will help its users ‘lead healthier financial lifestyles’.
Speaking to investors, an Tim Cook detailed that consumer interest for Apple Card, has been growing, since its announcement.
Cook further underlined that Apple Card would be one of Apple’s major releases, alongside new gaming venture Apple Arcade and its revamped update of Apple TV.
“We’re going to wait till we get these things out. And what I can tell you right now is that the — we’re taking sort of consumer interest on the Apple Card and there’s been a significant level of interest on that and we’re excited.”
Despite reporting an ‘above expectations earnings quarter’, delivering $58 billion in global revenues, Tech analysts are monitoring Apple new product launches closely, as the company sees sales of its flagship iPhone slow down (-17%).
During the call, Cook would be questioned on whether Apple would focus more developing more added-value services for its products, a business segment that is growing for the tech firm, but that would see it move away from developing consumer technologies.
“We wouldn’t do a service that we didn’t think would be meaningful,” said Cook, “These aren’t hobbies.”
Cook maintains that Apple Card’s pending release is in-line with previous Apple launches, in which the company has delivered products such as it’s the iPod and iPhone and App Store.
“Apple Card is integrated into the wallet app and delivers all new experiences that only Apple can provide integrating our hardware, software and services in an elegant solution that places the customer at the center. It’s the first card to encourage you to pay less interest, eliminate fees and give you daily cash on all your purchases and customer interest to date has been terrific.”