Apple has been steadily expanding its financial offerings in 2023. In March, it debuted a buy now, pay later service called Apple Pay Later. Then a month later, it added a high-yield savings account backed by investment bank Goldman Sachs.
The moves are part of a push to expand the company’s revenue by providing services, according to Bloomberg. That share was just 8% roughly a decade ago. Last year, services accounted for nearly 20% of Apple’s revenue, according to the outlet. The sale of products, including its iPhone and iPad, make up the bulk of its revenue.
