The Best Thing for Apple Since the iPhone

Apple distances Itself from the other FAANG companies. And the big bank credit cards.

Apple is taking a page from Amazon’s strategy and acting like a loyalty leader, changing the game for brands that matter or at least act like they do. The Apple Card is launching with no fees or late payments, a low APR, cash-back rewards, and – significantly – a value proposition that neatly integrates into Apple Pay and its iOS. This positions Apple in a unique way and offers its customers a better value proposition and a better customer experience for payments and credit.


Perhaps even more significant is that Apple is squarely committed to consumer privacy and will not share data with third parties. This is unlike banks that work with companies like Cardlytics – and especially unlike platforms like Facebook, Google and the rest of the FANGs. In spite of our criticism of Apple for its lack of personalization and its now tired retail customer experience, the company is pursuing a path that’s good for Apple – and also quite good for customers.  

Three things that will drive Apple’s growth serve as examples to us all:

1)   Apple takes privacy seriously and is ahead of the rest of the FAANG companies and others. Its commitment to not remarketing data is significant and a real differentiator, both for customers and ultimately, for lawmakers.

2)   Apple is expanding its ecosystem strategically, which will drive growth organically, profitably and ultimately, do the same for its ecosystem.

3)   It is pivoting to customers.  Doing things better than others on behalf of customers and embarking on a clearly customer-centric strategy for its business.

The last point is the key to unlocking Apple’s value, and it comes at a critical juncture. As data and privacy are going to be increasingly regulated, it’s increasingly incumbent on companies to be customer centric not only for legal reasons, but because it’s good for customers and their trust of the brand.

That makes this is the best thing Apple has done since the iPhone.