APPLE WILL REPORTEDLY launch its credit card, first shown off at WWDC back in March, within the next few weeks.
So says Bloomberg, which has heard from a person "familiar with the matter" that the imaginatively-named Apple Card will launch in the first two weeks of August. Though unconfirmed, it's likely the millennial status symbol will make its debut in the US only.
iPhone users will be able to sign up for the card via the Wallet app, the report claims, which which will have built-in Apple Card support as part of the latest iOS 12.4 update.
The Apple Card marks the company's first foray into the world of banking. It'll be made available in both physical and digital versions; they'll be a minimal Apple logo-emblazoned titanium card - there's no CVV security code or credit card number - and a version within Apple Pay.
While, on the face of it, it'll work like your average debit card, the Apple Card will also give you a breakdown of your purchases by category; splash out on a croissant and coffee and the Card will file the payment under a "food and drink" category, for example.
There's also no monthly or foreign transaction fee with the Apple Card, and you'll you get one per cent cashback when you pay with your card, two per cent if you pay using Apple Pay and three per cent if it's an Apple purchase.
US banking giant Goldman Sachs will take care of the actual banking side, while MasterCard - already a big partner of Apple Pay - will help handle some of the payments stuff.
"Apple is a great partner and we together are excited about delivering a product that we think customers will love," a Goldman Sachs spokesman said in a statement given to Bloomberg.
It's official. Apple confirmed during its fiscal third-quarter earnings that, as rumoured, the Apple Card will launch in the US in August. There's still no word on a UK launch. µ
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