Apple Card - A new way to pay sort of

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https://mobilesyrup.com/2019/03/25/apple-card-announcement/

Apple announces ‘Apple Card,' coming to U.S. this summer

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Apple has announced the ‘Apple Card.' The new digital credit card is available exclusively on Apple devices. Apple Card is easy to sign up for on your iPhone's Wallet app, according to the Cupertino-based company. The digital credit card will work anywhere you can use Apple Pay. Every time you use Apple Pay with your Apple Card, you'll get two percent ‘Daily Cash' back. Direct purchases from Apple users will get three percent back as well. Daily Cash can be used everywhere you can use Apple Pay, and can even be used to pay off your balance. There is no limit to how much money you can get back daily. With the Apple Wallet app, you can easily see your total balance when you have to make your next payment and your previous transactions. With Apple Card, the Cupertino-based company will also simplify transactions and will use data to make your previous transactions easier to read and understand. The app also automatically categorizes the user's purchases, such as ‘food and drink' and ‘travel.'

To save on interest you can pay bi-weekly and weekly. Apple Pay has no late fees, no annual fees, no over limit fees and no international fees. Even if you miss a payment Apple will not charge a penalty. The American company has also promised lower interest fees. Apple has partnered with Goldman Sachs and Mastercard, which will allow the card to be accepted all over the world. Goldman Sachs has also promised to never share or sell user information. Apple plans to keep your information secure and says that the company will not know what you bought, where you bought it and how much it costs. Every payment needs either Face ID or Touch ID for it to go through. Apple will release a physical titanium card that features no card number, no CVV and no expiry date — though all that information is available on via Apple Pay. Payments with this card will get users 1 percent ‘Daily Cash' back. Apple Card launches this summer in the U.S. 2019. It's unclear if Apple Card will ever make its way to Canada but we've reached out to Apple for more information and will update this story when it becomes available.


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It is very interesting in many ways. A more flexible way to pay your balances, being able to track your purchase history especially if you use the card for everything and the added security of it being iPhone based. I'm keeping an eye on it.

Apple Pay is growing as well. I prefer it to using the debit card or cash.
 
I'm using Google Pay on my Samsung phone and it's taken just about everywhere up here, our debit cards and credit cards all have tap as well as chip (for the most part)... I have an Apple for work but it's locked down.
frown.gif
 
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As was mentioned in another thread, a huge step forward would be to see these methods used at the gasoline pumps. Some companies do have it available but only inside. They fear they will lose their profitable store business.

The seamless experience wins me over. When Marriott started accepting Apple Pay I found it very easy to do a pre-check in and payment while on the way to the hotel during my trips in Asia. Phone pay has been in place for some time there. In the US there is some resistance.

The employees spend more time welcoming me and making me comfortable rather than spending time processing payments and getting room cards programmed.
 
Originally Posted by PimTac
As was mentioned in another thread, a huge step forward would be to see these methods used at the gasoline pumps. Some companies do have it available but only inside. They fear they will lose their profitable store business.

The seamless experience wins me over. When Marriott started accepting Apple Pay I found it very easy to do a pre-check in and payment while on the way to the hotel during my trips in Asia. Phone pay has been in place for some time there. In the US there is some resistance.

The employees spend more time welcoming me and making me comfortable rather than spending time processing payments and getting room cards programmed.


Like Mobil SpeedPass?

There should be something similar to EZPass where as soon as your car pulls up to the pump, it's authorized. Gas n go.

Then again it takes about ten seconds to swipe a card...
 
It should be easy to do for someone with as much cash as Apple, however sooner or later you'll see someone complaining about Apple because they are predator lenders (even though Goldman will be the actual bank).

Goldman has a pretty bad rep among the lower income folks, I'm not sure why Apple will partner with them, it can totally damage their reputation when things go south.
 
I was surprised at the GS connection as well. I think Apple gave them a good pitch. With as many Apple users there are worldwide, even a 10% sign up rate is huge.

The reality is that this is the future.
 
Originally Posted by PimTac
I was surprised at the GS connection as well. I think Apple gave them a good pitch. With as many Apple users there are worldwide, even a 10% sign up rate is huge.

The reality is that this is the future.


I think it has more to do with who is actually owning a lot of shares and want to make deals together. If your major share holders told you to work with one specific bank that they also hold a lot of shares, what else can Tim do?
 
I want that titanium card
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But yeah... I use Apple Pay whenever I can. Super easy, and Meijer accepts it at their gas pumps. Speedways near me have new pumps with the feature available but not turned on for whatever reason.
 
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You guys are nuts if you think Apple won't track your purchases and what you are doing daily.
And then sell your info.
 
Originally Posted by Dallas69
You guys are nuts if you think Apple won't track your purchases and what you are doing daily.
And then sell your info.



Like literally every other company?
 
Originally Posted by Skippy722
Originally Posted by Dallas69
You guys are nuts if you think Apple won't track your purchases and what you are doing daily.
And then sell your info.



Like literally every other company?




This is the reality whether we like it or not. We are being tracked in many different ways.

The security features of the Apple card are the prime reason to consider one. Giving the consumer more flexibility on payment options and with no fees is another. There are some changes that I predict other cards will adopt.

One example is the physical card with no visible numbers. That is an idea that is way overdue.
 
Originally Posted by Skippy722
Originally Posted by Dallas69
You guys are nuts if you think Apple won't track your purchases and what you are doing daily.
And then sell your info.



Like literally every other company?


The last thing I care is company tracking my purchases. The stores I buy from already sold me out, so might as well get a cash back on it.
 
Originally Posted by PimTac
One example is the physical card with no visible numbers. That is an idea that is way overdue.

There may be value to that; there may not be. The credit card companies, let alone the payment processors, have been waffling over it themselves, unsure of which way to go. An embossed card has features that are both vulnerabilities and security features, depending upon the method of attack. That goes for "unmarked" cards as well, and cards that only have a printed, non-embossed number.

Visa interchange up here is shortly going to (actually, it might have been March 31) eliminating non-chip use through Chase.
 
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