What sets the Apple credit card apart? It wasn’t created by a bank, company says

It has become obvious that Silicon Valley is going to disrupt the banking business. First, it was the likes of Paypal. Then, Facebook












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with the Libra digital currency. And now it’s Apple












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with the Apple credit card.

According to analysts, what sets the Apple credit card apart from other cards is that it relies on the iPhone. Using Apple ID, according to this makes the card secure. But that’s not what the company chose to highlight in its pitch to consumers.

Instead, in new television advertising for its credit card that ran Sunday during NFL games, Apple decided to notify its audience that it has no ties to historical, and pejorative, banking stereotypes.

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“Apple Card is here. It’s a new kind of credit card. Created by Apple — not a bank,” says the voice-over in the 30-second spot.

Of course, Apple Card isn’t entirely divorced from the banking industry. The credit card, unveiled in March and launched last month, is the product of a partnership with Goldman Sachs.

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Read: Apple, Goldman launch highly anticipated credit card

Analysts said that the card is a way for Goldman












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to build its Marcus mass-market consumer-focused bank. For Apple Card, Goldman will focus on “the bank end,” approving applications, payment processing and monitoring transactions for fraud.