Photo Credit: The Verge
Apple’s next big product is not a bigger iPhone or a smaller MacBook Air, in fact, it is not even an electronic product at all. Apple Card is the newest service that Apple will be offering to its customers very soon. Working together with Goldman Sachs Group Inc, Apple is making its way into the field of consumer credit with their new credit card. The Apple Card will be paired with Apple Pay as customers can use their iPhones to pay for goods and services in-store or online.
Using the Wallet app, Apple Card users will be able to track their purchases and debts all from the palm of their hands. Apple has taken notice of other mobile banking apps and plans to have color-coded categories that show where the purchases are made from, the merchant’s name, and how much it was. They claim the Wallet app will allow cardholders to have an easier time breaking down their purchases as it will be neatly organized into different categories and easy to navigate.
Photo Credit: Business Insider Singapore
Apple and Goldman Sachs have created an amazing digital credit card and to bring it to life, they will have a titanium credit card available for customers. The physical card will be used for places that do not accept Apple Pay. Due to the fact that your name is laser etched on the card, it is expected that many Apple lovers will opt for a physical card to show off to all their friends.
Other than it being an Apple card, the new credit card will not be much different than ones offered by Citigroup or PayPal. Apple Card will offer 2% cash back on all purchases and 3% on purchases made at the Apple Store or with Apple services such as the App Store. Apple also claims the card will not include annual, foreign transaction, and late fees. The most important part about the Apple Card is that Apple and Goldman Sachs will not share collected user data with advertisers or partners, meaning all of your confidential information will be safe. Apple and Goldman Sachs are two of the biggest companies in their respective industries, so it is safe to say that many people will see this as a reliable credit card and sign up for that stunning titanium card.