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Apple Begins Roll out for its ‘Apple Card’ for Selected Users

Purchases are organised by colour-coded categories such as Food and Drinks, Shopping and Entertainment

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FILE - Apple's App Store app is seen in Baltimore, MD., March 19, 2018. VOA

Apple has begun the preview roll-out for its ‘Apple Card’ to a select group of customers who had signed up to be notified about the release of the card.

The sign-up process requires iPhones running iOS 12.4. Users would have to enter their personal information like their address, birth date, income level and last four digits of social security number, news portal GSMArena reported on Tuesday.

That information would further be sent to multinational investment bank Goldman Sachs, which would approve or decline the application in real time. According to Apple, the process should take less than a minute.

The Apple Card is both a digital and a physical credit card that requires no number, CVV security code, expiration date or signature on the card.

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The Apple logo is shown outside the company’s Worldwide Developers Conference in San Francisco, California. VOA

It comes with benefits like instant approval, zero fees on missing deadlines or going over the limit and daily cashback on purchases.

Also Read: Micro-blogging Site Twitter Testing ‘Snooze’ for its Push Notifications

Apple Card uses Machine Learning (ML) and Apple Maps to clearly label transactions with merchant names and locations.

Purchases are organised by colour-coded categories such as Food and Drinks, Shopping and Entertainment. (IANS)

Next Story

Apple Card Now Available to all U.S. Customers

Apple, which is counting on recurring fees to boost revenue as iPhone sales slow, has been making a broader push to expand its services business via its 1.4 billion active devices. Apple reported $11.46 billion in services revenue for the fiscal third quarter

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antitrust lawsuit, apple, iphone apps
FILE - Apple's App Store app is seen in Baltimore, MD., March 19, 2018. VOA

The Apple Card is now available to all U.S. customers, the company said Tuesday.

Apple announced the full launch of its new iPhone-integrated credit card, a joint venture with Goldman Sachs, on its website Tuesday. Previously, a limited number of customers were invited to apply for the card early in a “preview.”

IPhone users can now apply for the card through the Wallet app “in minutes” and “start using it right away with Apple Pay in stores, in apps and on websites” if they are approved, according to the blog post. The card carries no fees, but customers who don’t pay their balance in full are subject to a 12.99% to 23.99% variable APR based on creditworthiness.

The company also announced it was extending the card’s 3% “Daily Cash” policy to more merchants and apps, including Uber and Uber Eats. The rewards program gives back a percentage of every purchase as cash on customers’ Apple Card “each day.”

Apple, women
The Apple logo is shown outside the company’s Worldwide Developers Conference in San Francisco, California. VOA

In early August, Apple invited its first customers to apply for the Apple Card.

CNBC previously reported Apple wanted Goldman Sachs to approve as many of its 100 million-plus U.S. iPhone users as possible for the card, within the bounds of regulation and responsible lending. The bank has been accepting some applications from users with less-than-stellar credit scores.

The card does include financial wellness tools like a “payment nudge” that shows how much interest a user would be charged for a given payment amount. The card also displays detailed spending information in real time, letting users track weekly or monthly spending, categorized by color.

Also Read: Google Removes 27 Apps that Guided Users to Fake Play Store

Apple, which is counting on recurring fees to boost revenue as iPhone sales slow, has been making a broader push to expand its services business via its 1.4 billion active devices. Apple reported $11.46 billion in services revenue for the fiscal third quarter. (IANS)