The future banks


Are Apple, Amazon and Facebook the future of banking?

Apple (AAPL) is reportedly on the verge of launching a joint credit card with Goldman Sachs (GS) that would carry the Apple Pay brand. And Facebook (FB) just formed a team to explore the power of blockchain that could include creating its own cryptocurrency for payments.
In the not-too-distant-future, Amazon (AMZN) could let customers zap each other cash with Alexa, and then deposit the money in an Amazon-branded checking account.

Will smaller fin-tech such as SQ, TWLO, etc be acquired or die out eventually?




TWLO is communications not FinTech.

I wonder if anyone will replace Visa, Mastercard, etc and the crazy fees they charge. I think that’s the real potential of block chain if transaction costs can be low enough. $20/transaction won’t cut it. Some other currencies are only a few cents per transaction.

Apple had a card with Barclays for years. The reward points auto redeem for iTunes gift cards. You get double points on any Apple purchases. They run promos with special financial for Apple products (usually no interest for 1 year). There’s no annual fee. I guess I’ll be switching to a different Barclay card, since I don’t want to lose all the years of account history.


No one seems to question how Starbucks holds hundreds of millions of dollars via their app, paying zero interest, and no FDIC insurance. (My Sbx “threshold” is $10.00, but I know others with $50 as their minimum balance). An acquaintance of mine worked for a similar company - non-bank with huge cash inflows - and made the company some real money on the float. Float is the time between acceptance and payment to vendor, similar to what PayPal does when you deposit funds with them for goods and services, but the vendor gets the money 2-3 days later.

Non-Bank Banking is coming through the Google, PayPal and Amazon platforms. It’s a matter of trusting these non-banks to stay solvent and manage money with care. I’m not one to cede that level of trust yet to non-government entities yet, but that’s just me.

Thanks for reading,


:grinning: Risky to trust companies that sell your data.
AAPL can be trusted. In any case, Apple Pay rides on current fin infrastructure.


Shoot, forget the future of banking… me likes that traditional, old school profit!!!