Apple Card thrives 5 years in, but what's next? 🤔; Goodbye, Paytm? Paytm Payments Bank's demise and the future of digital payments in India 💳🇮🇳

FinTech is Eating the World, 2 February

Hey Everyone,

TGIF! Another week in FinTech is about to end, and today’s issue is like a cherry on top of a sweet cake 🍰 We’re going to look at the Apple Card that’s counting its 5th year in (is it a failure?; how it’s performing & what’s next + tens of bonus reads and deep dives) and say goodbye to Paytm Payments Bank (the demise & the future of digital payments in India + some bonus reads). Let’s jump straight into the awesome stuff 🌶

Apple Card thrives 5 years in, but what's next? 🤔

The news 🗞️ Nearly five years after its launch in 2019, Apple Card continues to gain traction, now with over 12 million users who earned over $1 billion in Daily Cash rewards in 2023 alone, according to the latest data from Apple AAPL 0.00%↑.

The digital-first credit card stands out for features aimed at improving cardholders' financial health. Nevertheless, quite a few people have started to question the success of Apple’s FinTech product, with some even calling it a failure.

Let’s take a closer look and see how Apple Card is actually performing and what should we expect next.