What do you think of when someone says “Apple”? Phones? Laptops? Overrated earphones maybe? All these are understandable replies, but would you ever associate Apple with credit cards? Not likely. But you better start doing so because the company just launched its all-new digital and physical payment option, the Apple card.
At Apple’s “show time” services event, the tech giant announced the new Apple Card, the biggest upgrade to their Apple pay platform. The Apple card promises to tackle the usual drawbacks associated with a normal credit card by offering things like lower interest rates and better rewards.
The latest venture aims to push Apple users to utilise Apple pay, an app that isn’t getting the kind of response the company wants. iPhone users can get the digital card by signing up on the Apple Wallet app. Payments can then easily be done in places where Apple pay is supported. The app has become a lot more user-friendly by allowing users to track purchases, check balances and see when their bill is due right from the app. Every transaction made using Apple card will be authorized by using Face ID or Touch ID and a one-time unique dynamic security code.
The company has also made a physical card option available. The design of the card is very subtle, but still manages to look stunning. It looks like a secret and exclusive card that James Bond would hand over to the bartender to pay for his whiskey. It is made using Titanium, so this is one card you can’t cut with scissors. It also does not bear a credit card number, CVV, expiration date, or signature because all of that information is stored directly in the Apple Wallet app. Apple has teamed up with Goldman Sachs and Mastercard to handle payment processing.
Instead of a points-based reward program, Apple Card will provide the user with cash back rewards in the form of Daily Cash, which is will be sent straight to your Apple Card. Purchases made through using Apple wallet app will get up to 3 per cent cashback, while the physical card will get just 1 per cent cash back.
As of now, the service will only be available in the US.
We just hope that this doesn’t turn into another statement Apple piece like the airpods. The good thing is, unlike the airpods, you can’t use this as an accessory to show off. But Apple fanboys will somehow find a way to show off their Apple card by probably tying it around their neck and end up getting robbed in the process.