In March, Apple announced about the launch of the Apple card, since then we have not heard much about the card. Now, according to the reports of the Bloomberg, during the first half of August, customers based in the U.S. should be able to order the new credit card. According to the some rumors, the most recent update of iOS contains everything users will need or the Apple Card. In order to launch the card, the company can also flip a server-side switch.
Before the official release date of this new card, Apple’s retail employees have been able to sign up to the Apple Card and test it, according to the reports of the Bloomberg, a few weeks ago. Obviously it is not easy to release this kind of product so for that, Apple has Apple has partnered with Goldman Sachs on a credit card for U.S. customers. According to the reports of Bloomberg,the two companies worked together on the new technology, but split up many of the responsibilities.
The user experience is being controlled by the Apple and Goldman Sachs manages the banking infrastructure. With the help of Wallet app on your iPhone you will be able to sign up directly. You can then use your Apple Card with Apple Pay. A plastic card will also be received by user that works on the Master card network.
Using this card, user can also see a breakdown of your purchases by category, in addition to a list of user’s most recent transactions. This card will surely come with many benefits for its users like they will not have to pay any monthly fee, also no foreign transaction fee will be with this Card.
There are also other facilities on this card, user will get 1% back when he will pay with his card. If you pay using Apple Pay, you will get 2% cash back and if it’s an Apple purchase you will get 3% cash back. This cash back is credited directly on user Apple Cash card. Using this balance, you can pay for things through Apple Pay, and also you can make a payment on your new Card or transfer it to your bank account.
You won’t find any credit card number on the card, when it comes to the security. You get a virtual card number in the Wallet app, when you want to pay for something on a website that doesn’t support Apple Pay. Apple has not yet confirmed the release date.