Banking

Apple job posting points to alternative payment ambitions

Apple is looking for an expert in the payment industry’s hottest segments in anticipation of partnerships in point of sale credit, digital wallets, faster payments and cryptocurrency.

The recruitment ad is for a business development manager who will lead alternative payment partnerships, including search, screening, negotiation and management.

Apple has made deeper inroads into financial services over the past two years, using Apple Pay’s huge enrolled base and a partnership with Goldman Sachs to issue Apple Card. Apple Card combines payments, financial services, loyalty and other services through the same account.

That has sparked a competition that includes Google, PayPal and dozens of other technology companies that are partnering with banks to diversify their product bundle and control more of their customer relationships.

Many of the other firms in the race, such as PayPal and Square, are increasing their support of cryptocurrency, placing investment services in proximity to payment apps, such as PayPal’s Venmo or Square Cash. Apple, which did not return a request for comment, could add bitcoin investing to its wallet, or a buy now/pay later service through Apple Card.



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