the Apple Card: Apple announces its own credit card
Apple Card: Revolutionizing the Credit Experience with Innovation
- Apple Card is revolutionizing the credit experience by integrating it into the Apple Wallet app. It simplifies applications, removes fees, and enhances privacy and security. A unique card number generates on the iPhone and securely stored in the Secure Element. Face ID or Touch ID authorizes purchases along with a dynamic security code.
- Jennifer Bailey, Apple’s VP of Apple Pay, underscores Apple Card’s aim to promote a healthier financial life. It offers transparency, competitive interest rates, and no penalty rates. Customers can sign up in the Wallet app, view real-time transaction and balance data categorized by Food, Shopping, Entertainment, and more.
- Apple Card employs machine learning and Apple Maps to label transactions. A titanium Apple Card is available for non-Apple Pay locations, designed without a card number, CVV, expiration date, or signature.
- Apple Card, launching in the US this summer, receives backing from Goldman Sachs and Mastercard, who provide card issuance and global payment support.
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