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Apple Launches Apple Card: The First-ever Credit Card for iPhones

Apple Card needs 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

Entering the lucrative credit card business, Apple has introduced the Apple Card that is built into the Wallet app on iPhone, offering customers a familiar experience with Apple Pay and the ability to manage their card on their devices.

Apple is partnering with Goldman Sachs and Mastercard to provide the support of an issuing bank and global payments network.

According to the company, Apple Card simplifies the application process, eliminates fees and encourages customers to pay less interest and providing a new level of privacy and security.

Available in the US this summer, Apple Card also offers a reward programme with Daily Cash which gives back a percentage of every purchase as cash on customers’ Apple Cash card each day, the company said in a statement on Monday.

“Apple Card builds on the tremendous success of Apple Pay and delivers new experiences only possible with the power of iPhone,” said Jennifer Bailey, Vice President of Apple Pay.

Customers can sign up for Apple Card in the Wallet app on their iPhone in minutes and start using it with Apple Pay right away in stores, in apps or online worldwide.

Apple Card uses machine learning and Apple Maps to clearly label transactions with merchant names and locations.

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Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, Aug. 1, 2018. VOA

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

A unique card number is created on iPhone for Apple Card and stored safely in the device’s Secure Element, a special security chip used by Apple Pay.

“Goldman Sachs will never share or sell your data to third parties for marketing or advertising,” said Apple.

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“We are excited to be the global payments network for Apple Card, providing customers with fast and secure transactions around the world,” added Ajay Banga, President and CEO of Mastercard.

Apple has also designed a titanium Apple Card for shopping at locations where Apple Pay is not accepted yet.

Apple Card needs no number, CVV security code, expiration date or signature on the card. (IANS)

Next Story

Apple Planning to Incorporate 3D ToF Sensor in Next Years’s iPhone Models

Next year, Apple is expected to launch four iPhone models with significant specification upgrades, media reports suggest

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Apple, Campus, China
A customer is entering the Apple store in Fairfax, Virginia. VOA

Apple is reportedly planning to incorporate Time of Flight (ToF) 3D sensing rear camera system in next year’s iPhone models.

Earlier there were rumours that a ToF sensor might be introduced as part of the 2019 line-up of iPhones but the sensor would just not be ready in time this year, news portal GSMArena reported on Thursday.

In addition, the Cupertino-based company is also planning to use Vertical Cavity Surface-Emitting Laser (VCSEL) in the cameras of the 2020 iPhones.

VCSEL is a key component of Apple’s TrueDepth camera that also powers features like Face ID, Animoji and Portrait mode selfies.

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iPhones on display at an Apple store in Virginia, USA, April 4, 2016. VOA

Last year, famed Apple analyst Ming-Chi Kuo said that the ToF 3D rear cameras would make a debut with the 2020 iPads before making their way to the 2020 iPhones.

Next year, Apple is expected to launch four iPhone models with significant specification upgrades, media reports suggest.

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While three iPhones are expected to come with OLED screens and display sizes of 5.4-inch, 6.1-inch, and 6.7-inch, the devices would also have 5G connectivity. The fourth iPhone is expected to feature an iPhone 8-like design and come without 5G connectivity or OLED panel. (IANS)