Apple Credit Card – Security, Privacy, Simplicity, Rewarding
Apple is launching secure, loaded with privacy features rewarding virtual credit card for its consumers based on the wallet app on iPhones.
“With our hardware, software and services, we think that Apple is uniquely positioned to make the most significant change in the credit card experience in 50 years,” Apple CEO Tim Cook told the audience at an event held Monday at the Steve Jobs Theater in Cupertino, California.
As it has done in the past, Apple aims to revolutionize an existing product. In this case, it aims to make the credit card more consumer friendly by simplifying the application process, eliminating fees, encouraging customers to pay less interest, and providing a new level of privacy and security.
Customers can sign up for an Apple Card inside the wallet app on their iPhone and start shopping with it in minutes.
The card is tightly integrated with a number of views that give a cardholder real-time information about their balances and latest transactions. Transactions are linked automatically to Apple Maps, with merchant names and locations displayed.
Customer support will be just a text message away.
Apple Card, to be available this summer, is loaded with several incentives and cash rewards program.
The card app provides realtime payment guidance with several options and charges to be incurred upon selection – which will make purchasing decision easy for a buyer.
Every purchase made with Apple Card will be authorized by a biometric authenticator – either a Touch ID fingerprint or Face ID- facial recognition along a one-time unique code which makes it extremely secure both software wise and architecture wise.
The purchases and transactions through Apple Credit Card will be completely anonymous completely disguising the purchase details which is a unique feature.
Backed by Goldman Sachs and Mastercard, the card has strong financial background and thought to it and intends to offer markets lowest interest and rates and charges per transaction.