Apple Wants to Launch a Credit Card for iPhone Users

[CyberTech]

Content source

https://news.softpedia.com/news/apple-wants-to-launch-a-credit-card-for-iphone-users-525051.shtml

Apple wants to release its very own credit card of users of Apple devices that would provide a series of benefits, including rewards when purchasing content from the App Store.
Cupertino has teamed up with Goldman Sachs, according to a report from the WSJ, and the new credit cards will enter a private testing program in the coming weeks.

Only company employees will receive the new credit cards at first, but Apple hopes to bring it to the market as soon as possible, possibly later this year.

The credit cards will be specifically aimed to be used with the Wallet app that Apple offers on its devices, and will provide customers with 2% cash back for their purchases. Rewards are also likely to be offered, and Apple believes that it could thus not only increase spending in the App Store, but also be able to generate more revenue with its services.

Possible launch in September
The credit cards will come with a series of management options, and users will be allowed to see their balance and configure spending goals.

At this point, both Apple and Goldman Sachs are still working on the project, and the latter is said to be in a rather advanced planning stage, as it’s preparing for setting up call centers for customer support. The new payment system is believed to be ready, so the first Apple employees getting the credit cards in the upcoming weeks will be able to try them out as part of the private testing program.

Needless to say, Apple has remained completely tight-lipped on its plans, but the company is expected to announce the credit cards in September when it takes the wraps off its new iPhones. More details in this regard could be shared in the coming months, possibly at the WWDC conference in the summer.

 

[Vasudev]

Another garbage scam to lock down its loyal customers from jumping ships to Android. First was iMessage, Apple Pay, Face id and now this.... I don't Apple think Apple credit cards won't work on older iphones and will force customers to buy next gen iPhones costing INR 284 680 just to get Apple credits app.
I hope People are more aware about BOM and start boycotting similar tactics employed by all companies.

 

[37507]

Another garbage scam to lock down its loyal customers from jumping ships to Android. First was iMessage, Apple Pay, Face id and now this.... I don't Apple think Apple credit cards won't work on older iphones and will force customers to buy next gen iPhones costing INR 284 680 just to get Apple credits app.
I hope People are more aware about BOM and start boycotting similar tactics employed by all companies.

Apple is bad for wanting to keep their customers from switching to Android? How dare they offer a something new that many Apple users will enjoy! How will I make sure people know Android is superior? Do you hear yourself? With that logic, Xbox is bad for keeping people from switching to PlayStation. AT&T is bad for keeping their customers from switching to Verizon and so on.

After owning 3 flagship Androids, I jumped ship to an iPhone and never looked back. Sorry to pop your bubble.

 

[Vasudev]

Apple is bad for wanting to keep their customers from switching to Android? How dare they offer a something new that many Apple users will enjoy! How will I make sure people know Android is superior? Do you hear yourself? With that logic, Xbox is bad for keeping people from switching to PlayStation. AT&T is bad for keeping their customers from switching to Verizon and so on.

After owning 3 flagship Androids, I jumped ship to an iPhone and never looked back. Sorry to pop your bubble.

If iphone works for you then its good.
Pop my bubble, highly unlikely.

 

[SumTingWong]

Apple is probably going to charge $150 for a new credit card and $250 - $300 for a replacement credit card. Why expensive? Its Apple, get it?

 

[IkariGradius]

I know it's off topic, but how fun would it be to by an apple (the fruit) with an Apple credit card ?

 

[Vasudev]

I know it's off topic, but how fun would it be to by an apple (the fruit) with an Apple credit card ?

Well, for starters you can buy Apple and sell them for a huge profit margin and grab some oranges too!

 

[upnorth]

When or if it actually works world wide and I would own an Apple device that I could connect it with for example Apple Pay, why not. It's even recommended to spread ones money over several accounts and not get stuck on just one. If one card stop works for any reason, the second one might work unless it's the whole system that broke down. That happens.

Mobile payments still have not caught on in the United States as much as they have in other parts of the world, especially China. That’s largely because merchants have been slow to adopt the technology, and banks until recently were fixated on the transition over to chip-and-PIN credit cards

The other issue is that there still aren’t a whole lot of retailers that take mobile pay, including Apple Pay. “If consumers can’t consistently use a tool, they tend not to want to use it,”

Apple’s new credit card offers 2% ‘daily’ cash back — what consumers need to know about it

Apple is teaming with Goldman Sachs on the card, which is designed to be used with Apple Pay.

www.marketwatch.com

But Goldman Sachs. Aren't there better alternatives?

 

[Hollow]

Is this VCC or Physical card ?
If VCC I’m happy

 

[Ink]

Apple is bad for wanting to keep their customers from switching to Android? How dare they offer a something new that many Apple users will enjoy! How will I make sure people know Android is superior? Do you hear yourself? With that logic, Xbox is bad for keeping people from switching to PlayStation. AT&T is bad for keeping their customers from switching to Verizon and so on.

After owning 3 flagship Androids, I jumped ship to an iPhone and never looked back. Sorry to pop your bubble.

Most keyboard warriors are Pro-Android. This was to expected.

On the positive, it adds options for consumers who want this type of product, but of course it's not for every Apple user.