A few weeks ago, Apple announced a brand new product. No, it wasn’t a new iPhone. It was, surprisingly, not a big piece of technology, but a thin piece of plastic. That’s right—Apple is now in the credit card business. And they’re not even a bank (side note: the actual issuing bank is investment firm Goldman Sachs, and this is the first consumer credit product they’ve ever issued).
Dubbed “Apple Card,” the new credit card is simultaneously a virtual card that lives in a virtual wallet on your phone, but also a real card that sits in your real world wallet.
Now, you might be thinking, “What in the world is a tech company doing issuing credit cards?” But when you dig into the details, it actually makes a lot of sense.
First, Apple Pay is an enormously successful mobile payment system. It allows users to store credit cards on their iPhones, and then use their iPhones and iWatches to pay for goods and services—both online and in the real world. It only made sense for them to get in on the game and issue a credit card.
Apple loves to reinvent already existing technology, making them better, more intuitive, and easier to use. And that’s exactly what they’ve attempted with Apple Card. They’ve taken the convenience of a standard credit card and amped up the benefits. They’ve eliminated fees, instituted a cashback program on every purchase, and developed some very savvy technology that makes the card more secure and transparent than the standard credit card. They’re goal is to make it easier for consumers to use their product, thus stealing business from banks, who are widely known for their very unfriendly policies, very high interest rates, and heavy fees.
So, what does this have to do with Credit Key? Well, as the title of this post says: We are to B2B trade credit what Apple Card is to consumer credit cards. Here’s how:
- We make it easy for your customers to apply for and obtain credit—all online through your shopping cart;
- We make it easier—and faster—for B2B merchants to get paid;
- We’re far more affordable than many traditional financing companies and banks.
Those are just a few of the ways in which Credit Key is taking something old, clunky, and outdated (trade credit) and reinventing it for the digital age. Our goal is to make it easier to buy from every B2B merchant no matter who the customer is or what industry they’re in. The saying in business that “cash is king” is now old fashioned, and we believe convenience has come along to replace it.
If you’d like to learn more about how Credit Key can revolutionize your B2B e-commerce business, contact us. We’re happy to show you all the ways your business and your customers can benefit from integrated instant credit.