What you need to know
- Apple Card might be getting another Android rival.
- Chinese smartphone vendor Vivo has filed for a 'VivoCard' trademark in China.
Another Android vendor might be planning a payment card to rival Apple Card and offerings from the likes of Samsung and Huawei, according to a recent trademark filing.
As first spotted by DroidMaze, it appears that smartphone marker Vivo has filed for a 'VivoCard' trademark in China. The application, which iMore has independently checked and verified, was made on July 28.
It would appear to indicate that Vivo is planning some kind of foray into the world of payments akin to Apple Card and offerings from Android rivals like Samsung and Huawei. Apple Card remains bound to U.S. shores at this time, with no real sign the company plans to change this.
According to unofficial survey figures report in May, Apple Card could have as many as 6.4 million cardholders in the U.S. In its most recent update to the service, Apple announced Apple Card Family in April, from Apple:
Apple today announced Apple Card Family, an innovative new way for people to share their Apple Card, track purchases, manage spending, and build credit together with their Family Sharing group. Available in the US in May, Apple Card Family allows two people to co-own an Apple Card, and share and merge their credit lines while building credit together equally. Apple Card Family also enables parents to share Apple Card with their children, while offering optional spending limits and controls to help teach smart and safe financial habits. Apple Card Family is designed to help the Family Sharing group achieve a healthier financial life by making it easy to track spending, all on iPhone and with a single monthly bill.
The company is reportedly planning a major new feature called 'Apple Pay Later', which would thrust Apple into the world of 'buy now, pay later' services like Klarna by letting Apple Card customers make incremental payments for major purchases, spreading out the upfront cost.
Whilst Apple Card is a success at home it seems, it's not available anywhere else in the world, leaving a much bigger gap in the market for companies like Vivo to step in and offer their own solutions before Apple has a chance. According to figures from Counterpoint Research, in Q1 of 2021 Vivo was the biggest handset vendor in China, fighting it out with OPPO for the top spot as Huawei continues to decline.