Apple is both a partner and a competitor for banks. The lenders, several of which had an unsuccessful battle with the tech giant last decade, pay Apple an undisclosed fee in return for being able to provide its payment service Apple Pay.
Really interesting dynamic has formed between banks and Apple.
For context, Australia has 4 big banks that after surviving the GFC, now pretty much own every smaller bank in the market.
Commonwealth Bank is the biggest of the 4.
Just find it a little ironic that they're talking about keeping a market competitive.
But this quote still shocked me and made me lol at the same time:
“The thought that a single provider could have 80 per cent market share in an individual market is usually cause for concern. I’d be the first to say they make fantastic products, but this is a company that’s market cap is double Australia’s gross domestic product,” Mr Comyn said.
'ugeeee!
Neither the banks or Apple want whats best for society.
They have an obligation to their shareholders and that's it.
I hate how it's framed like either are the good guys.
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Apple is quickly turning into a cancer.
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Yea, that's one of the reasons I'll never get an iPhone
Not that other big techs are much better, but at least they aren't as overpriced
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I recently sold my iPhone for an affordable android which can serve me better.
It's all about choice and what you are using your phone for. If its blogging then iPhone isn't part of it. Just the way I see it tho
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True
I'm not a heavy mobile user so I don't really need anything fancy.
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It's like the tag line for Alien versus Predator: "Whoever wins, we lose."
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Yea and I have heard people preaching about the Apple card. I don't exactly want one either.
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