Bellerage Alinga

Apple releases its own credit card

Apple releases its own credit card

The first financial product was released by Apple, the “Apple Card”. Apple started a partnership with Goldman Sachs and Mastercard to enter the financial services market.

The company promises that the card will be free from the fees that are usual for loans – annual fees for services, late payments and for cross-border remittances.

The card for Apple will be issued by the Goldman Sachs Bank, it will be integrated into the Apple Wallet application - you can also order it through the application.

Cardholders will be able to receive analytics of income and expenses and calculate the cost of the loan in the application.

You can pay by credit card wherever Apple Pay is accepted. Apple Pay is accepted by 70% of US shops and is available in 40 countries.

For other cases the company will issue a physical credit card made of titanium. At the same time, information on the card itself will be minimal: the card number, CVV security code, expiration date and customer name will not be indicated. All this will be only on the cardholder's phone.

The card will be available in the summer in the US, there is no information about the release of cards in Russia.