Apple may finally be getting a handle on games

A still from the Hot Lava game on Apple Arcade

A still from the Hot Lava game on Apple Arcade

On Monday, Apple announced a new credit card in partnership with Goldman Sachs.

For most of the financial firms, interest income is a major source of revenue: customers are charged additional interest payment if they use the card without first settling the previous balance. Apple has multiple developers working on games exclusively for Apple Arcade, which includes such legendary developers as Hironobu Sakaguchi (creator of Final Fantasy), Ken Wong (Monument Valley), Will Wright (SimCity, The Sims), and Charles Cecil (Broken Sword). It will work through the company's wallet app Apple Pay. There are people out there who still subscribe to magazines for some reason. Using a credit card to send a person-to-person payment is considered a cash advance, and credit card companies are known to charge exorbitant fees and interest rates to use the feature. Not because of the cash back offered to users - they can get similar deals elsewhere. FairPlay is a technology developed at Cupertino that offers DRM (digital rights management) tools that the company is using to protect copyrighted materials on its iTunes store.

Apple News+ is the other offering Apple announced and will offer an unlimited reading experience for a fixed monthly sum. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day.

"These people could go where the money is, but they are going where Apple is", Creative Strategies analyst Carolina Milanesi said of the star power on display at the event.

Apple Card clearly labels transactions with merchant names and locations via machine learning and Apple Maps.

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What has also been unique with the March 25 event is that it was entirely devoted to the streaming services segment with no hardware finding mention during the proceedings. I simply couldn't bear to pay over $100 a month anymore in addition to Netflix exclusively to watch a handful of shows and live sports.

The service costs $9.99 per month in the U.S. and $12.99 in Canada.

One great feature that everyone would love is that the service does not require any fees. Also Chief Executive David Solomon will, at a swoop, put the firm on the map in an industry where just four companies - Citigroup, JPMorgan, Bank of America and Capital One - hold half of all US card balances.

Apple is formalizing its on-demand video service. It'll make it easy to track all the shows you watch, and it'll give you a single portal through which you can access all (well, most) of that content. It knows it has to focus more on services moving forward. All of this is no doubt alarming for Apple that had grown used to see nearly the lion's share of its revenue stream being contributed by iPhone and iPad sales.

We only have a few titles confirmed for Apple Arcade so far - Sonic Racing and Sayonara Wild Hearts among them - with no details on pricing. In the meantime, May can't get here soon enough because I need that new TV app and Apple TV Channels in my life.

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