Thursday, September 29, 2022

Apple’s Alternative Payment Partnership Program To Be Operated By BDM

The multinational tech company Apple is seeking an individual with experience in the crypto industry to join the company as Business Development Manager (BDM) to lead its Alternative Payments partnership program.

As per the notification, the individual should have worked with or in alternative payment providers for more than five years. He/she would be the chief negotiator of the company for the alternative payment space. Their role would be to choose the potential partners, and sign deals with them. Also, as a BDM of the tech company, it would their responsibility to introduce new programs and features for the Wallets, Payments and Commerce team of Apple. 

“Lead the partnership program with key players in the Alternative Payments ecosystem, covering the complete process of partner identification, business case development and socialization, partnership negotiation, contract signing and execution, go to market launch and continued partnership value growth,” says Apple in its job notification.

The multinational tech giant has not yet clearly mentioned which would be specific products or partnerships the hired BDM will work on. However, it mentioned that the company is searching for a person who has experience in alternative payment spaces like digital wallets, BNPL, fast payments and cryptocurrency.

In 2012, Apple introduced a digital wallet feature in the iPhone which at that time could secure boarding passes only. However, over the period of time, the company upgraded the wallet feature and enable to store different financial services like contactless Apple Pay, peer-to-peer payments, Goldman Sachs-powered Apple Card and loyalty rewards programs.

Apple has not been a big fan of cryptocurrencies, but in February 2021, when Tesla bought Bitcoin, a few of the market experts suggested that the multinational tech giant should also start purchasing and selling cryptocurrency. But the company executives did not agree with the idea shared by the analysts.

In fact, in 2019, the Apple Pay executive did appreciate the concept of virtual currency. According to him, digital currency has long-term potential but the company did not focus much on it. 

There were some rumors that Apple would be launching its own cryptocurrency like Facebook’s Diem, but by the end of the same year, the CEO of the company shot down that idea. 

Now as Apple is going to hire a BDM with a cryptocurrency background shows that the company is diverting its focus towards it and this action will have a good effect on the market. 

Like earlier, when Tesla announced to accept Bitcoin payment for its car, the crypto market suddenly experienced a huge surge. 

Similarly, if the multinational tech giant starts accepting cryptocurrency then it would help the crypto market growing. 

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