CoreCard, Green Dot fall on report of Apple working on in-house fintech
30/03/2022 19:23
** Apple Inc AAPL.O fintech partners CoreCard Corp
CCRD.N and Green Dot Corp GDOT.N fall on report that the
iPhone-maker is working developing its own payment processing
technology and infrastructure
** CCRD down 12.5% at $28.9, GDOT down 8.3% at $26.75
** Bloomberg reported https://www.bloomberg.com/news/articles/2022-03-30/apple-is-working-on-project-to-bring-financial-services-in-house
that AAPL is working on an array of capabilities including
payment processing, risk assessment for lending, fraud analysis,
credit checks and additional customer-service functions
** Goldman Sachs GS.N , another key partner, slipped as
much as 1% at $336.23
** AAPL's push, which may take a few years to materialize
into products, will power services like Apple-branded credit
card, peer-to-peer payments, the Wallet app and a mechanism for
merchants to accept credit cards from an iPhone, according to
the report
(Reporting by Yuvraj Malik)
((yuvraj.malik@thomsonreuters.com))