Apple Card is the credit card of Apple. With Apple Pay, the apple company has achieved a very important role in the financial sector. The possibility of paying with our smartphone or with our smartwatch has attracted millions of people from all over the world. And in some markets Apple Pay is already synonymous with paying without a card; for example in Spain, where Apple Pay has already conquered 80% of the sector.
Apple Card is Apple’s Credit Card
The next step was perhaps obvious: a credit card. And the truth is that it is not a surprise: the truth is that we already knew from last month that Apple was working on it. But that does not mean that seeing the logo of the apple on a credit card is not something special. And it is not, because issuing a credit card is not up to many; even from one of the most valuable companies in the world.
That’s why Apple has teamed up with Goldman Sachs and MasterCard for all the support and use of the global card payment network. Goldman Sachs may be the largest mutual fund group in the world, but it has no experience in financial products for the final consumer. According to Apple, this was the key to creating a completely different card than what we are used to.
The Apple Card is a credit card designed to be used in conjunction with our Apple devices to simplify its use. This is more than evident when we see that the card itself does not exist, or at least not for the majority. The card is integrated into Apple Pay, and it is from the app that we can check all our data and manage our expenses.
From Apple Pay we can better understand the way we use our credit card; and of course, we can pay directly using our iPhone simply by bringing it closer to the point of sale. All that, in a safe and controlled manner; the app organizes the payments we have made automatically to better understand how we spend the money every month.
Apple Takes Another Step to Conquer Your Finances
For example, showing all the payments we have made in entertainment services. Or showing the payment history, including the exact location where we made the payment in addition to the possible benefits we have if we are regular customers. Speaking of this, Apple wants to get attention with Daily Cash, a new system of rewards that allows us to receive money back for the payments we have made.
The expenses are shown in simple graphs to understand but do not be surprised not to see maintenance costs because you do not have them. In addition, Apple promises very low-interest rates compared to the rest of the industry. And all that focused on security and privacy. Apple has promised that, unlike other services, it will not share our information with other companies.
Although Apple Card is a digital product, Apple has also designed a physical card. Made of titanium, it is intended to be used on sites that do not accept Apple Pay. The striking thing is that the only data that shows the card is the name of the user. The card number and other information are only accessible from the web.