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Apple’s ‘Buy Now Pay Later’ Could Be Major Fintech Disruptor

Apple‘s (NASDAQ: AAPL) recent foray into fintech is intriguing. In this video clip from “The Future of Fintech” on Motley Fool Live, recorded on June 9, Fool.com contributors Jason Hall and Lou Whiteman discuss how the tech giant, with all of its resources, could be a gamechanger in the fintech industry.

Jason Hall: I think this is just signaling that Apple is willing to give it a try. I trust Tim Cook, I trust Luca Maestri, the CFO there. They will take risks with products. They will not take risks with the balance sheet. The amount of cash that consistently is on the balance sheet is evidence of that. I trust these guys.

I think the biggest threat to the rest of the buy now pay later industry continues to be their ability to manage risk. It’s far bigger than Apple, and we’re going to find that if these guys are any good over the next two or three years as the credit cycle plays out. That’s kind of my thoughts on it. Lou?

Lou Whiteman: Just round it up but I don’t think Jason, you hit on it. This isn’t the tech show. I think the thing we’ve all known about Apple for a long time, and I think it was really highlighted this week was the phone updates were nothing burger. Phones are a mature technology and we keep waiting for the what’s next, and whether it’s Apple car or the Apple TV a few years ago or fintech.

Apple is fully aware that they need a second act. I think a lot more than we perceive they do, given how great the phones are and what people are willing to pay for the phones. That’s mature business and they need a second act.

For me I’m looking at fintechs that I invest in, I think there’s a lot more opportunity in Apple with fintech than there is with an Apple car or something like that, and I’m going to be watching really closely because I do think with their balance sheet, with their resources and with the networks they have, this is a real natural player that could be a real pain in the side for a lot of fintech companies that we talk about every week here.

Jason Hall has no position in any of the stocks mentioned. Lou Whiteman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool has a disclosure policy.

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