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AFRM - Breakingviews: Apple Pay Push Is Scarier For Fintechs Than Banks
Affirm Holdings Inc.
Apple (AAPL) is taking a bite out of the financial-technology sector.
The $2.9 trillion iPhone maker led by Tim Cook is beefing up its in-house financial-services infrastructure and expanding further in consumer credit, Bloomberg reported on Wednesday.
Apple’s financial resources are huge: it had $203 billion of cash and marketable securities at the end of 2021.