Apple announced on 25 March 2019 during its press event that it was launching a new credit card in partnership with Goldman Sachs and Mastercard.
Apple Card is a digital card which will, in theory, simplify the application process, eliminate fees and encourage customers to pay less interest for their credit card.
The Apple Card will give cashback in the form of Daily Cash which will go straight to your Apple wallet app which is synced to the Apple Card. Think of the Apple Card as a financial tracking and management tool integrated with your iPhone.
In-built graphics will also show what and how much you spent on, the due date and the balance owed. Machine learning and integration with Apple’s Maps engine will link purchases with businesses automatically.
You’ll be able to use the Apple Card in apps, online and in physical stores, anywhere in the world where MasterCard is accepted or with Apple Pay.
Apple will also launch a titanium Apple Card that is touted as being more secure than any other credit card because:
It’s pretty much a blank card for shopping at any store that doesn’t have Apple Pay.
Every dollar spent will go to your Wallet app and can be spent immediately:
To get an Apple Card, users will be able to sign up on their iPhone in the Apple Wallet app and get a digital card. It will be launched in the summer of 2019, but there’s no exact date yet.
These plans for the USA and possibly using the region as a testbed before expanding into Asia. We’ve no news on when it will be available in Singapore yet.
Tim Cook announced that the Apple Card would be “the most significant change in the credit card experience in 50 years.”, but we’re not so sure whether it’s actually useful or just another social symbol as with many Apple products. You can notify your interest for the Apple Card here.
For Full Details, Check Out Apple’s Press Release On The Apple Card.