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ARTICLE · 02 MAY 2019

Apple iCard And Its Implication On The Indian Fintech Industry

Khurana & Khurana, Advocates and IP Attorneys
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On 25th March tech giant, Apple made its groundbreaking entry in the arena of digitalized financial services.

IndiaTechnology
Shubham Borkar
Shubham Borkar
Pranay Bhattacharya
Pranay Bhattacharya
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Introduction

On 25th March tech giant, Apple made its groundbreaking entry in the arena of digitalized financial services. Apple in partnership with Goldman Sachs Group Inc. and MasterCard has broadened its product line with the new "Apple Digital Credit Card" payment system. This credit card takes advantage of everything that Apple products offer to set a new kind of credit based service via its Wallet App by setting up Apple Pay feature, which allow users to maintain a digital account balance and spend it for making store purchases, online payment as well as Peer-to-Peer lending through digital wallet system, scanning QR codes etc. This card network will benefit every sector where Apple Pay is accepted and will allow users to track their privacy.[i]

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