Thread: Apple Card
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Old 30-08-2019, 08:38 AM   #58
Join Date: Dec 2007
Posts: 297
MAS said that applicants must have a track record of at least three years in an existing business within the technology or e-commerce fields.
Note the "Existing business in techology field" and even though apple may not operate as bank, the apple pay cash function is similar in behaviour to a bank account for storing money, therefore this will require licensing from MAS.

You are confused. Apple Card technically is still a credit card and Apple is not going into fintech just yet.

Apple can work with any banks in Singapore to issue this card.
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