Petr Škuta The Apple Card came onto the scene without much speculation or conjecture. Now Americans will be able to use a favorable credit card directly from Apple, and we can only quietly hope again.
Apple has announced a new partnership with Goldman Sachs that could make the Apple Card credit card possible. The entire virtual credit card is closely linked to the Apple ecosystem, and if users insist, they can even order a physical card.
It could be interest you
David Hanak By the way, Goldman Sachs is behind the 2013 bond offering, when Apple raised $17 billion. And it wasn't the first time the company managed Apple's bonds. The first time was in the nineties.
The possibility that Apple was in talks about the card was first mentioned by the Wall Street Journal, and then references were found in the iOS 12.2 code itself. But the new payment card has been sidelined in a flurry of speculation about streaming services. At the same time, it may have more potential than these given services.
Apple Card is linked to Apple Pay Cash. Thanks to the connection with the Apple ID and the connection to the Apple ecosystem, the user will not have to pay any fees. On the contrary, you will get 2% back when you pay or 3% if you pay for Apple services. All money will then be credited to the Apple Card.
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Apple Card offers a link to iOS, not macOS
Apple will also offer all modern tools that are implemented directly in iOS or the Wallet application. However, there was no mention of the Mac. The tools will help users, for example, set limits, track transaction history, or draw graphs of the categories you spend the most on.
Apple thus enters the financial services market and begins to directly compete with banking institutions.
Unfortunately, this is all for US customers to enjoy for now. Eventually, the service will likely expand to other select countries, such as the United Kingdom or Canada. But the hopes that they will head to the Czech Republic are really small. First, Apple Pay Cash would have to come to our country, which has not even crossed the borders of the United States yet.
Source: 9to5Mac
Oh yes, it's not so rosy. It's a credit card, i.e. a loan from the Goldman Sachs bank. I don't have any fees, but according to the info, the interest rate can be up to 24%. Don't confuse it with a classic bank card for a personal account
I assume Apple is doing it for profit and GS will give it a % of the purchases, so the extra expense will have to show up somewhere and the plebs have to pay for it with something. For example, massive use of a credit card from GS, or there will be something in a small font.
the client will pay it in terms of interest and the trader in fees in the EU there are strictly regulated fees, both interbank and costs and fees for the trader American banking is significantly less controlled than in the EU comprehensively from the client's creditworthiness to the bank's reserves and strict stress tests for banks there is a lot and especially with credit cards, there are many differences between practice in the US and in the EU