Apple launches its Card For US Customers
By MYBRANDBOOK
Apple has launched its credit card, with all US customers starting today and now able to apply for it through the Wallet app on their iPhones. First unveiled in March, the titanium card has been developed in conjunction with Goldman Sachs.
Apple Card has no fees,3 encourages customers to pay less interest, offers an easy-to-understand view of spending and provides a new level of privacy and security. This launch follows the Apple Card preview earlier this month, during which a limited number of customers were invited to apply early.
Users can sign up for the card in the Wallet app in minutes and start using it with Apple Pay in stores, in apps and online. There are no annual, late, international or over-the-limit fees while interest rates are "among the lowest in the industry" claims Apple.
On security and privacy, a unique card number is created on iPhone for Apple Card and stored in the device’s Secure Element, a special security chip used by Apple Pay. Every purchase is authorized with Face ID or Touch ID and a one-time unique dynamic security code.
The firm is hoping to win over users with its Daily Cash rewards programme, which gives back a percentage of every purchase as cash. Customers will receive two per cent Daily Cash every time they use the card with Apple Pay, and three per cent on all purchases made directly with Apple.
Apple Card is designed for iPhone and provides a new level of privacy and security. A new arrangement also sees customers get three per cent Daily Cash when the card is used with Apple pay for Uber and Uber Eats.
Jennifer Bailey, VP, Apple Pay, says: "We’re thrilled with the overwhelming interest in Apple Card and its positive reception. Customers have told us they love Apple Card’s simplicity and how it gives them a better view of their spending."
With no card number, CVV security code, expiration date or signature on the card, Apple Card is more secure than any other physical credit card.
Customers will receive 2 percent Daily Cash every time they use Apple Card with Apple Pay, and 3 percent Daily Cash on all purchases made directly with Apple, including at Apple Stores, apple.com, the App Store, the iTunes Store and for Apple services.
Apple Card delivers new experiences only possible with the power of iPhone, including reaching support 24/7 by simply sending a text from Messages. Apple Card 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. Goldman Sachs will never share or sell data to third parties for marketing and advertising. Apple is also partnering with Mastercard to provide the support of a global payments network.
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