Apple finally launches Apple Card

By Muneeb Ahmad on
August 21, 2019
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Initially available to a limited number of customers only, Apple has now launched its credit card for the eligible iOS users across the US.

The eligible iOS users would be able to use the virtual credit card through the Apple Pay service in brick-and-mortar stores and online. In case they want a physical Apple Card, the users would be able to order a physical copy of the card from the Wallet app interface on iOS. The card offers payment services like any other regular card and would enable the users to make cash payments, pay their bills and view their spending habits through the Wallet app. Apple mentions that the Wallet app uses Machine Learning and Artificially Intelligence to visualize and label the transaction histories through the card.

Apply also announced that it is bringing a 3% cashback incentive to the Apple Card users who would be making their payments to select merchants. The cashback facility is currently available on Uber ride-hailing and Uber Eats service. The cashback service, which comes with the name of Daily Cash, will also be available on payments for Apple-related services like on Apple Store and iTunes store.

The individuals who would like to use this service will have to sign-up on the Wallet App. The users can select Apple Card as an available payment method from the Apple Pay option in the menu of the Wallet App. The Wallet app will notify the users about their credit limit and the applicable interest rate. As the user agrees to these details, the Apple Card account for the users would be set up. In order to use the card, the Apple users will have to place their phone next to the payment terminal. The physical Apple Card could also be used in stores which accept MasterCard payments.

For the uninitiated, Apple Card is a MasterCard backed by Goldman Sachs, a US-based banking company. The card offers credit-based payments to the qualifying iPhone users with smartphones running iOS 12.4 or above. This means that in order to use this service the Apple users must be using an iPhone 6 or newer models. Apple mentions that the service is completely free for the users and there won’t be any charges like annual or over-the-limit fees.

It should be noted here that the Apple Card facility is currently available to the iOS users based in the US only. Depending upon the viability and success of the product, it could be made available to the users in other countries as well.

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