As the sales growth of the iPhone is slowing down, Apple is exploring different ways to make money by exploiting their existing user base. According to a new report from WSJ, Apple is planning to issue its own credit card in partnership with Goldman Sachs. Apple credit card users will be able enjoy 2% cashback and some additional features in Apple Wallet app. Apple will be rolling out this credit card to its own employees in the coming weeks and planning to make it available to the general public later this year.
Apple already has a payment service called Apple Pay which earns them about 1% commission. But this new credit card will allow them to earn even bigger revenue through service charges and other things.
Source: WSJ