Mostly sounds like Goldman Sachs is terrible at their job and signed a bad contract.
this post was submitted on 26 Jul 2023
21 points (100.0% liked)
Apple
17241 readers
183 users here now
Welcome
to the largest Apple community on Lemmy. This is the place where we talk about everything Apple, from iOS to the exciting upcoming Apple Vision Pro. Feel free to join the discussion!
Rules:
- No NSFW Content
- No Hate Speech or Personal Attacks
- No Ads / Spamming
Self promotion is only allowed in the pinned monthly thread
Communities of Interest:
Apple Hardware
Apple TV
Apple Watch
iPad
iPhone
Mac
Vintage Apple
Apple Software
iOS
iPadOS
macOS
tvOS
watchOS
Shortcuts
Xcode
Community banner courtesy of u/Antsomnia.
founded 1 year ago
MODERATORS
The article mentions that Goldman signed the contract as a way into the consumer credit market and it looks like they want out. Out of both the Apple deal and consumer credit card market. So it sounds like they made some pretty big and terrible decisions here. Not just the deal with Apple but the entire strategy.
Hearing they don’t even get a cut of transaction fees really raised my eyebrows.
Between 0% interest rates for Apple products, customers who pay off their entire balance, and customers who just don’t pay their balance at all, there’s thousands of ways for them to straight lose money and only one way to make money (balance carrying users who actually pay their bills)