Thursday , August 18 2022

Apple is launching its own credit card in partnership with Goldman Sachs and MasterCard



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The new payment methods coming to the market are not coming to an end. Among a series of announcements made during this day in California, Apple reported an alliance with the investment bank Goldman Sachs to have its own credit card, Apple Card.

The card designed for iPhone is via Apple Wallet and, according to the firm led by Tim Cook, is expected to be more than 10 billion transactions with Apple Pay this year.

"You register from your iPhone and you can use it immediately. You can use it all over the world, everywhere where they accept Apple Pay," Cook said in introducing new products and services.

Goldman Sachs will be the bank responsible for publishing this card, MasterCard too. Apple's card will not charge on commissions to its users, provided Apple Pay's payment system is accepted. In addition, the company will return money to those who use the card to pay. "We will repay 2% of what you spend and 3% for what you spend in Apple," the company added.

The system integrates the remaining functions of traditional credit cards, such as being able to review the purchase and payment history made. In addition, we organize expenses by category, allowing users to organize their money better.

On the other hand, the Cupertino company reiterated its commitment to privacy and ensured that it will not know "what is being bought, where it is bought or how much is paid".

In terms of security, he explained that the physical card has no number or expiry date, as both elements have been registered in the digital version of it.

The physical card can also be used in areas where Apple Pay is not permitted and has high safety standards, according to the company.

Steps of action

After the company's announcements of the apple to bite, the company's shares fell 1.21% in the New York stock market.

Please note that as well as publishing the new credit card, Apple has introduced games to a series of new video and news services, and also included the subscription program a few days after Google introduced a game based scheme. on the cloud.

One of the key publications of the day was the new original content streaming service: Apple TV.

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