Apple launches Apple Card in payments services expansion

Apple updates news app, digital wallet; set to enter video streaming

Apple launches Apple Card in payments services expansion

The firm is talking up an attractive rewards programme, with customers receiving a percentage of every purchase amount back as Daily Cash, which is added to the card each day and can be used right away for purchases using Apple Pay, to put toward their Apple Card balance or send to friends and family in Messages.

This press release features multimedia.

Apple Pay boss Jennifer Bailey showing off the new physical Apple Card.

Apple said its own card would keep customer information similarly stored.

Apple also launched a news app called News+, which will be available in Europe later this year, and Apple Arcade, a gaming platform. The company stated the new TV app will come to Mac, Smart TVs, Amazon FireTV, the Apple TV device, iPhones, iPads, and more after the service itself begins in May.

Besides the financial considerations of Apple Card, the company is clearly trying to draw users in on customer-friendly accounting and repayment plans.

Customers will be receiving Daily Cash to the tune of 2% on all of their Apple Card payments outside of Apple's ecosystem. If you make any purchases with Apple, such as in an Apple Store, App Store, iTunes, etc., then you get 3% Daily Cash.

Apple Card will have no late fees, annual fees, international, nor over-limit fees. Interest rates will vary from range from 13.24% to 24.24% based on creditworthiness, the company said in a footnote on its web site about the new card.

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What's more, Apple Card will include a tool to help users pay less interest by making their options more transparent.

"Every purchase is secure because it is authorised with Face ID or Touch ID, and a one-time unique dynamic security code", said Apple. The company said it wouldn't know where customers spend, how much they spend, or what they buy.

The card is the result of partnership with Goldman Sachs and Mastercard. Apple was also careful to announce that Goldman Sachs will not use your data for profit through third parties for marketing.

The firm held an event in Cupertino, US to announce a number of new and enhanced services.

Should trouble or a question arise, users can text Apple Card and get immediate replies. In addition to a virtual card that lives in a user's wallet, Apple has also designed a physical titanium card. The physical card is meant to reflect Apple's signature minimalist style, with no visible card number, CVV security code, expiration date, or signature on the card.

Available in the USA this summer, the titanium Apple Card is a built into the Apple Wallet app on iPhones and is touting a simple application process, no fees, financial management tools, and top level security and privacy.

Apparently you can get your card in minutes, and it's (naturally) powered by Apple Pay.

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