Apple's inexorable plan to replace retail banking
At this point, Apple offers its users services to make purchases, transact sales, buy items on credit using a card, save money, a virtual currency, and to make small transactions over time at zero interest rates. It takes a tiny cut of cash from all these transactions. But even now the Apple Pay story is still just beginning.
No one likes banks
Think back to the financial crash, when an out-of-control banking sector set in motion a chain of events that left many people today poorer than they were and it’s not hard to figure out why tech firms are finding it easy to chomp away at the core banking business. No one likes the banks any more.