Apple launches its credit card nationwide
The wait is finally over.
Apple’s alternative to traditional credit cards — the no-fee Apple Card — is now available to all iPhone users in the U.S. The national launch comes after Apple made the card available to a limited preview group earlier this month.
“We’re thrilled with the overwhelming interest in Apple Card and its positive reception,” said Jennifer Bailey, Apple’s VP of Apple Pay. “Customers have told us they love Apple Card’s simplicity and how it gives them a better view of their spending.”
Apple Card is built into the Apple Wallet app on iPhone, connecting it to the Apple Pay digital payment service and providing users the ability to manage their card on their phone. With no card number, CVV security code, expiration date or signature, Apple Card has the same type of ultra-modern, sleek look as an Apple device. The card comes with a cashback rewards program that gives back a percentage of every purchase as cash on customers’ Apple Cash card each day. Customers will receive 2% cashback every time they the card with Apple Pay, and 3% back on all purchases made directly with Apple, including at Apple Stores, the App Store, the iTunes Store and for Apple services, and also for Uber and Uber Eats.
For security, Apple Card has a unique card number created for each user on their iPhone and stored in the device’s secure element, which is a special security chip used by Apple Pay. In addition, every purchase is authorized with facial recognition or biometric touch, as well as a one-time unique dynamic security code. According to Apple, the card provides a new level of privacy and security.
“The unique security and privacy architecture created for Apple Card means Apple does not know where a customer shopped, what they bought or how much they paid,” the company stated.
Apple Card uses machine learning and Apple Maps to clearly label transactions with merchant names and locations in Wallet, and provides weekly and monthly spending summaries. It also shows a range of payment options and calculates the interest cost on different payment amounts in real-time.
Apple is partnering with Goldman Sachs as its issuing bank. Apple is also partnering with Mastercard to provide the support of a global payments network.
Apple’s alternative to traditional credit cards — the no-fee Apple Card — is now available to all iPhone users in the U.S. The national launch comes after Apple made the card available to a limited preview group earlier this month.
“We’re thrilled with the overwhelming interest in Apple Card and its positive reception,” said Jennifer Bailey, Apple’s VP of Apple Pay. “Customers have told us they love Apple Card’s simplicity and how it gives them a better view of their spending.”
Apple Card is built into the Apple Wallet app on iPhone, connecting it to the Apple Pay digital payment service and providing users the ability to manage their card on their phone. With no card number, CVV security code, expiration date or signature, Apple Card has the same type of ultra-modern, sleek look as an Apple device. The card comes with a cashback rewards program that gives back a percentage of every purchase as cash on customers’ Apple Cash card each day. Customers will receive 2% cashback every time they the card with Apple Pay, and 3% back on all purchases made directly with Apple, including at Apple Stores, the App Store, the iTunes Store and for Apple services, and also for Uber and Uber Eats.
For security, Apple Card has a unique card number created for each user on their iPhone and stored in the device’s secure element, which is a special security chip used by Apple Pay. In addition, every purchase is authorized with facial recognition or biometric touch, as well as a one-time unique dynamic security code. According to Apple, the card provides a new level of privacy and security.
“The unique security and privacy architecture created for Apple Card means Apple does not know where a customer shopped, what they bought or how much they paid,” the company stated.
Apple Card uses machine learning and Apple Maps to clearly label transactions with merchant names and locations in Wallet, and provides weekly and monthly spending summaries. It also shows a range of payment options and calculates the interest cost on different payment amounts in real-time.
Apple is partnering with Goldman Sachs as its issuing bank. Apple is also partnering with Mastercard to provide the support of a global payments network.