Apple a bigger threat than South Africa's new digital banks - Capitec boss

Yep, he’s thinking further down the road and he’s spot on. Maybe not in his lifetime but certainly in the next generation.
 
Yep, he’s thinking further down the road and he’s spot on. Maybe not in his lifetime but certainly in the next generation.
Nail head.

He has generations worth of wealth. So he be looking out for his kids with that family trust for sure.
He has over a million shares in CPI. Thats over 50 bar just in dividends for the last year. For doing fokool, just having it. Mahala.

Dividend tax, yes. And still, you are sorted.

I would also be concerned if I were in his shoes.

Dividend train boys.

Da fak you sell those shares and moer it into SARS's account. GTFO!
 
I just cannot see myself using Apple as a bank, other than for spending. Just a step too far.

As for Facebook, Google etc. - trust them with my money? HAHAHAHAHA!!!

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It’s weird as Apple isn’t a bank or even in this sector.

They front a card with banking partners so I’m not sure how they would be a threat in SA.
 
It’s not just our banks making these noises…


Apple is a trusted brand. It’s not just about the current market, this is about the future. The big guns are not traditional banks anymore and the momentum is looking good for Apple right now. 80% of US iPhone users use Apple Pay and Apple is now in the lending business. It’s clearly something they have their sights on.


For scale, Apple is 5 times bigger than the worlds biggest bank, JP Morgan Chase, by market cap.
 
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Don't think even Apple has time for ANC & BEE politics in SA. Not going to happen anytime soon.
 
One day, when all the world is taken over by Apple, Meta, SpaceX, and Alphabet, we here in South Africa will be the last bastion of mom-and-pop corporations, all thanks to ANC & BEE.
ANC and BEE are less interested in mom and pop than Apple.
 
One day, when all the world is taken over by Apple, Meta, SpaceX, and Alphabet, we here in South Africa will be the last bastion of mom-and-pop corporations, all thanks to ANC & BEE.
you could say with AI and all the advancements in the 1st world, its already a reality.
 
It’s weird as Apple isn’t a bank or even in this sector.

They front a card with banking partners so I’m not sure how they would be a threat in SA.

He's probably looking (very) far into the future.

If you consider the likes of Revolut who wasn't a bank but a financial services provider for a long time - Apple has the users, all of them have a "card" and/or payment terminal in their hand already in the form of an iPhone. If there is a business case for it it's not that big a stretch to see them hand out "bank accounts" with FX integration.
 
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He's probably looking (very) far into the future.

If you consider the likes of Revolut who weren't a bank but a financial services provider for a long time - Apple has the users, all of them have a "card" and/or payment terminal in their hand already in the form of an iPhone. If there is a business case for it it's not that big a stretch to see them hand out "bank accounts" with FX integration.
Given that banks are making 90% of the transaction fee of Apple Pay transactions, no doubt Apple is grabbing market share to position itself to take that 90 away. What banks have that apple don’t in as high numbers, is assets and lower risk. That shouldn’t be too hard for Apple once the wheels are in motion… either that or the market is disrupted again and assets aren’t as important going forward. Who knows what the future holds.
 
Apple doesn’t offer a full banking solution. They just have a credit card - which is ONLY available in the US. So, literally less than zero chance of that product coming to SA.

Click bait article as per norm.
 
He's probably looking (very) far into the future.

If you consider the likes of Revolut who weren't a bank but a financial services provider for a long time - Apple has the users, all of them have a "card" and/or payment terminal in their hand already in the form of an iPhone. If there is a business case for it it's not that big a stretch to see them hand out "bank accounts" with FX integration.

I guess if Apple do get into the crypto game as has often been suggested they could very well be the pivot point that makes it happen.
 
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