Apple has ended its partnership with Barclays to focus on Apple Card. The company will focus on offering new Apple Card financing plans. Apple Card is developed jointly by Apple and Goldman Sachs.
Apple told issued a memo to its retail employees. The memo stated that users would not be able to apply for Barclays card in retail stores or via Apple website starting from Sept 15. Incidentally, Apple is set to announce Apple Watch 6, new iPad on the same day. Perhaps we will get to see new financing schemes on Apple Card.
The Cupertino, California-based technology giant told retail employees in a memo that users will no longer have the option to apply for the credit card in retail stores or via the company’s website starting Sept. 15, the same day it plans to announce two new Apple Watch models and a new iPad Air. Apple told staff that existing cardholders can keep using the card like a normal credit card.”
Earlier, Barclays card offered a no-interest finance plan for Apple products. The tenure depended on the total value of the item. For products worth less than $499, the user would get six months no-interest EMI while the same extended to 12 months provided they bought an Apple product worth more than $999. Existing cardholders can continue using Barclays card; however, they will no longer get the benefits of zero-interest payment schemes.
Apple Card already offers interest-free monthly instalments plans for Apple products. Users can buy Apple products for an interest-free tenure ranging from six months to 24 months depending on the value of the product. Furthermore, the company is expected to introduce Apple Card to the international market by the end of this year. The rumors claim that Apple Card will launch in Australia alongside iOS 14.1 or iOS 14.2.
When was the last time you used Barclaycard Financing to buy Apple products?[via Bloomberg]