Apple Card helped push services-category revenue to new heights for Apple, which reported double-digit growth in its product and services segments for the third quarter of 2020.
Apple Card helped push services-category revenue to new heights for Apple, which reported double-digit growth in its product and services segments for the third quarter of 2020.
Though the company did not provide specific figures for Apple Card use or adoption during Thursday’s earnings conference call, Apple CEO Tim Cook and chief financial officer Luca Maestri both cited its role in helping Apple reach record services growth at $13.2 billion for the quarter.
In addition, the monthly installment payment plan Apple introduced in June through the Apple Card attracted considerable consumer interest, Cook said. The installment plan targets customers buying many of Apple’s products with the hope to push sales of iPads, Macs and AirPods. It followed the same plan the tech giant put in place for iPhones last year, with those sales offering 24 months of no interest.
Still, Apple Card did not escape the fate other cards endured when the global pandemic took hold.
