Apple just made a big announcement, the tech giant’s iPhone-powered credit cared will make an August launch.
The announcement was made during the company’s fiscal third-quarter earnings call on Tuesday. Apple previously announced its plans to launch the Apple Card back in March saying that the high-tech credit card will be launching this summer. While Bloomberg first reported that the Apple Card might be released in August, the company itself has only recently confirmed it.
Apple’s credit card launch is in partnership with Goldman Sachs, which will provide multiple benefits such as zero late fees and 2% cashback on purchases made through Apple Pay. iPhone users can find the card in the Wallet app designed to be used with Apple Pay, but a physical card will be distributed for use in stores that don’t provide contactless payment methods.
The company prides itself for its highly secure, laser-etched card. Apple has made it advance security a priority, the credit card won’t even come with a number on it.
That card is laser etched and is said to be highly secure — there isn’t even a credit card number on the front.
Along with the Apple Card’s launch, the Wallet app will have new features to track spending history and keep it organized. This includes color-coding and sorting purchases in categories like entertainment, shopping and food, and drink. It will also let users track where transactions take place on a map. According to Apple CEO Tim Cook, real-life testing was done with thousands of employees.