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xystyesterday at 12:01 AM0 repliesview on HN

If you consider the minutiae of percentage apple shaves off transactions with Apple Pay. Sure.

But they have partnered with GS and MC. Far from any sort of "finance industry roots".

They essentially offer a fancy UI on top of GS products and other traditional banks.

Apple Cash -> Green Dot or some other no name bank

Apple Card -> Goldman Sachs

Apple Pay -> some very small percentage of the bank and network fees charged to merchants