Apple has come up with its all-new credit card named Apple Credit Card.
To launch this new Apple Credit card, Cupertino tech giant has partnered with Goldman Sachs and MasterCard.
With the MasterCards global payment network, Apple credit card will be accepted all over the world, said Apple Pays vice president Jennifer Bailey, during the product launch event in Cupertino California.
Apple says that their credit card will make it easier for its user to track where they are spending money with the help of Apple Maps.
They also said, the users’ privacy is their main focus and they wont know what you have bought and from where.
The same iPhone security chip that handles Apple Pay will store the Apple credit card data, and Goldman Sachs wont share or sell users data to any third party.
Apple Credit Card Incentives:
Attractive financial incentives include, no fees (international or over-limit), low-interest rates and the company will reward extra points on every purchase. It means that you will receive a cash-back of 2% for purchasing any item using Apple card.
Moreover, you wont have to pay a single dime as a fine for your late payments and you can pay back the amount in weekly or monthly instalments as you see fit.
Apple is also preparing to develop a real-world credit card made from titanium, which wont have long card numbers, signatures or potentially identifying info of any kind.
You can use your card without the fear of theft in any store because all your information sits inside your Wallet app.
For now, we dont know much about the Apple credit cards functions, what it can do and what not, but we will soon find out.