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Apple credit card to restrict its users from buying cryptocurrencies

Aug 5, 2019, 9:43 am

The upcoming Apple’s credit card will come with certain restrictions that will not allow users to purchase cryptocurrencies with the card, as per reports from sources. The Apple Card customer agreement posted on Goldman Sachs’ website announces that the card will come with a ban on cryptocurrencies, casino gaming chips, race track wagers or lottery tickets.

The Goldman and Apple partnership is for the company’s broader revenue other than its iPhone sales that have seen a slump of 12% in the recent quarter. Crypto ban is not very unusual as many major American and British banks have already announced the prohibition of such purchases. The banks were more concerned with their consumers who might fall in debts, which they might not be able to repay due to volatile prices.

To use Apple Card on a jailbroken iPhone, users first need to sign up for the card and be approved via the Wallet app on iOS. However, users might lose their ability to both “access” and “manage” their account if they try jailbreaking their account.

“If you make unauthorized modifications to your Eligible Device, such as by disabling hardware or software controls (for example, through a process sometimes referred to as “jailbreaking”), your Eligible Device may no longer be eligible to access or manage your account. You acknowledge that use of a modified Eligible Device in connection with your Account is expressly prohibited, constitutes a violation of this Agreement, and could result in our denying or limiting your access to or closing your Account as well as any other remedies available to us under this Agreement.” Apple’s agreement

The card is confirmed to launch in August that will simplify the customer’s payment process with a new level of privacy and security.

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