Apple today has launched a Credit Card for the US customers in partnership with Goldman Sachs. A new credit card can be used right away by applying for it through the Wallet app on iPhone.
We’re thrilled with the overwhelming interest in Apple Card and its positive reception – Jennifer Bailey, Apple’s vice president of Apple Pay.
Apple Credit Card is a no-fee card that is “built on simplicity, transparency, and privacy.” This card will let customers pay less interest with 2 percent returns on any other purchase made with Apple Pay. The launch is followed with a preview period that started a few weeks ago for some customers.
The new kind of card will also come with machine learning and Apple Maps that will label transactions with merchant names and locations in Wallet. This will help customers show their weekly and monthly spending summary. It will also provide 3 percent Daily Cash to customers when they use Apple Card with Apple Pay for Uber and Uber Eats.
The company claims to come with a new level of privacy and security that lets customers keep their shopping details private. However, apart from partnering with Goldman Sachs, Apple is collaborating with Mastercard to provide the support of a global payments network.
This service is currently available to the United States customers with iPhone 6 and later. However, the company is already in talks with European regulators and has trademarked Apple Card in Europe, Hong Kong, and Canada.