During its keynote event, Apple presented a physical credit card that the Group distributes in cooperation with Goldman Sachs and Mastercard. The so-called ‚Apple Card‘ is characterized above all by its strong integration with the iPhone and the Wallet app. Users can view a detailed analysis of their expenses and outstanding amounts on their smartphone to keep track of their financial situation.
Transactions with Cash Back
Apple Card users receive a cash back of between one and three percent for all transactions, which is credited to the virtual Apple Pay Cash credit card integrated in the Wallet app.
Thanks to its integration with the iPhone, the Apple Card is expected to meet a higher security standard than other physical credit cards. Apple does without a printed credit card number and a CVV code. If the data is required, credit card users can access it via the Wallet App. Otherwise the Apple Card uses the security functions already known from Apple Pay.
Despite the extensive...
