The strategies of BigTech continue to evolve in the payments sector.
Apple has today formally announced its partnership with Goldman Sachs for the launch of a digital credit card later in 2019 that might signal a deeper push by Apple into the finance world.
Hot on the heels of its announced merger with FIS, we saw WorldPay announce a strategic collaboration with Amazon to allow its merchants to add Amazon Pay as a checkout option and thereby continue the expansion of Amazon Pay's reach beyond the Amazon ecommerce ecosystem.
Add to this Ant Financial's recent acquisition of the UK-based payments group WorldFirst and we see the continuing trend for Tech giants in both the US and the PRC to position themselves to play a lead role in shaping the global payments industry in the years to come.
Coupled with the general trend towards consolidation as smaller players are acquired in the search for scale, we continue to see the payments sector as one of the hottest areas for M&A for the rest of 2019.
Apple has announced its first consumer credit card, entering the space of financial services in partnership with Goldman Sachs.