Apple is teaming up with Visa, MasterCard and big banks like Bank of America, JPMorgan Chase, Citigroup and Wells Fargo for its Apple Pay service, but it isn't clear how long the technology giant will remain on the same team with all of these players. Craig Wildfang, partner at Robins, Kaplan, Miller & Ciresi, believes Apple may eventually represent a threat to these financial companies. Wildfang ought to know, having won a record $7.5 billion antitrust settlement over interchange fees. Still, while Apple has agreements with some 200,000 merchants, that is a long way from the more than roughly seven million that work with Visa and MasterCard.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Video
Slack's Direct Listing Day: A Look Behind the Scenes
Slack goes public at the New York Stock Exchange via a direct listing, Here's a behind-the-scene look of the company's big day.
Did Jerome Powell Avoid a Trump Tweet? Jim Cramer on the Fed, Oracle and Slack
Jim Cramer tackles the Fed's decision to maintain interest rates, Oracle's earnings and Slack's direct listing.
Why Now Is the Time for Investors to Look at All of Their Portfolio Positions
Investors should take a look at their portfolio positions, advises Doug Kass, Real Money contributor.
What's the Difference Between an IPO and a Direct Listing?
Do you know what the difference is between an IPO and a direct listing? TheStreet breaks it down for you in 60 seconds.
Replay: Jim Cramer Zooms in Jerome Powell, Adobe, CBS and Viacom
Jim Cramer takes a look at whether or not Jerome Powell's job is safe, Adobe's earnings and whether or not we're truly in the 'golden age of creativity' as Adobe's CEO claims, and finally, whether or not now is the time for CBS and Viacom to merge.