The high-yield savings accounts, available in conjunction with Apple’s credit card, are one of the tech company’s latest steps into the financial-services space, which also include an option to allow customers to “buy now, pay later” on certain of its hardware products. The company partnered with Goldman Sachs to offer consumers those options, part of Apple’s effort to transform the iPhone into a digital wallet that can help keep consumers linked to the software ecosystem behind its devices.
“I think what is special in this case is Apple is Apple,” Prof. Ma said. “Everyone knows what Apple is, and many people already have an Apple Card.”
https://www.wsj.com/articles/apple-launches-high-yield-savings-account-4880ecc2