Tim Cook, CEO of Apple, revealed that Apple Card, the iPhone-centric credit card, will be accessible in the US sometime in August. While Cook has not provided the Apple Card with a particular date or release information, the firm will start accepting requests in August, it revealed during its call for income for the third fiscal quarter of 2019.
Apple has already clarified a reasonable quantity about the card, saying that it is signed up from an iPhone and that it can be used either through Apple Pay or through a company’s titanium card. No traditional 16-digit card number, CVV code or expiry date will be used by the Apple Card. Rather, during each transaction, it will produce the numbers randomly to maintain purchases safely.
The firm has also pledged that it will not be possible for Goldman Sachs, the creditor, to monitor and see what a customer has shopped for and how much cash they have spent. Apple also offers cashback incentives, such as a 2% return on purchases made with Apple Pay or a 3% return on purchases made with Apple shop.
It has been revealed that the Apple Card will be launched in August and consumers will be able to sign up for the card via the iOS 12.4 Wallet app published last week to the public.
“Thousands of Apple employees are running the Apple Card every day in a beta test, and in August we will begin rolling out the Apple Card,” Apple CEO Tim Cook said.
The Apple service will offer three percent cash reimbursement on purchases made at Apple stores, two percent through the virtual card in the Wallet application and one percent on the use of the titanium card.
iPhone owners will have the opportunity to obtain the card through the Wallet app. The information explains that this project is underway and that the service will fulfill its objective of being launched this summer.
The presentation will be made by Goldman Sachs, investment and securities banking group and people who are in the United States can register it through a smartphone of the brand, which must have the iOS update 12.4.
At the moment it will only work in the United States. Although there is still no date for availability in Europe, Asia, Latin America, and other markets, it was said that Apple may use this market as a test before expanding to other countries.
The “Apple Card” is backed by the Goldman Sachs bank, which is the one that issues it, under MasterCard.