Rinchi
TechInAfrica – Apple announced the launching of its new digital credit card, Apple Card. It was officially launched yesterday. According to Forbes, Apple Card is launched in partnership with Goldman Sachs and processed by Mastercard. The most important thing is that it has no fees.
The launching of Apple Card is meant to be used virtually via Apple Pay on iPhone, creating the private payment which is considered new in cashless transactions. By saying private payment is that Apple does not know the details on how you use your Apple Card, including where you shop, what you bought, and how much you paid for your items/goods.
Moreover, with Apple Card, they will not sell or share your data to other companies for their own profit. In short, your privacy is completely protected. Therefore, you do not have to worry about your data being sold to advertisers or other third-party companies.
Besides promoting private payments, Apple Card is also built on simplicity and transparency. It is designed to help Apple customers to have a ‘healthier financial life’.
The digital credit card was first launched in March this year. According to Jennifer Bailey, Vice President of Apple Pay, the Apple Card was built to follow the success of Apple Pay. It is expected to offer new experiences which are made possible via the Apple Wallet on iPhone.
“We’re thrilled with the overwhelming interest in Apple Card and its positive reception. Customers have told us they love Apple Card’s simplicity and how it gives them a better view of their spending,” Bailey added, expressing her excitement for the launching of Apple Card.
The Apple Card is currently only available in the US. However, the partnership with global companies like Goldman Sachs and Mastercard would make it possible for the credit card to be available in other countries or even for all Apple users around the globe.
David M. Solomon, Chairman and CEO of Goldman Sachs, said: “We are going to start in the US but over time, absolutely, we will be thinking of international opportunities.”
Solomon added, “Simplicity, transparency, and privacy are at the core of our consumer product development philosophy. So we’re thrilled to partner with Apple on Apple Card.”
“We are excited to be the global payments network for Apple Card, providing customers with fast and secure transactions around the world,” said Ajay Banga, President and CEO of Mastercard.
Source: Forbes.com, itnewsafrica.com
