The Apple Card is expected to launch in the first half of August. According to a new report by Bloomberg, the first customers are likely to receive the card in the next few weeks, which falls in line with Apple’s original release window for the summer.
To recall, the Apple Card was announced back in March. The whole idea with Apple Card is to make traditional paymnets more convenient for users. It’ll be available via the Wallet app on the iPhone and will need iOS 12.4. The key attributes of the Apple Card will be its easy-to-understand spending, no fees and lower interest rates, along with privacy and cash returns.
The iPhone-maker has joined hands with MasterCard and Goldman Sachs to launch the Apple Card. It’ll offer users a slew of benefits such as 2 percent cashhback on Apple Pay transactions and 3 percent cashback on Apple purchases. Besides, Apple Card users won’t have to pay any extra fee, so there’ll be no annual, late, or international or over-the-limit fee.
“We are excited to be the global payments network for Apple Card, providing customers with fast and secure transactions around the world,” said Ajay Banga, president and CEO of Mastercard.
The titanium Apple Card is specifically designed keeping in mind user privacy. Hence, it has no card number, CVV security code, expiration date, or signature on it. The only it has is your name embossed on it.
“Apple Card transforms the entire credit card experience by simplifying the application process, eliminating fees, encouraging customers to pay less interest and providing a new level of privacy and security,” said Apple.
