Apple unveils credit card

Apple updates news app, digital wallet; set to enter video streaming

Apple defines it as "a new kind of credit card created by Apple", but don't think of it as plastic. Finally, one percent will be added for all purchases paid for with the physical Apple Card (more on that in a minute).

Thy physical Apple Card seems like a very appropriate product for worldwide users, where Apple Pay support is still widely lacking, but the company seemingly has no immediate plans to launch Apple Card in markets other than the USA at this time. Not only will it not have an annual fee, but it will also not charge users for a late payment, going over their credit limit, or using the card internationally.

Additionally, customers will receive a percentage of every Apple Card purchase amount back as a daily cash reward. Apple CEO Tim Cook thinks it could be the biggest revolution in credit cards "in 50 years". Apple has also tried to make everything more easy to read and understand too. "Purchases are automatically totalled and organised by colour-coded categories such as Food and Drinks", said Apple. That's because Apple wants you to use your Apple Card just like you use Apple Pay: on the phone itself.

On the topic of security Apple said that "every purchase is secure because it is authorized with Face ID or Touch ID and a one-time unique dynamic security code".

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. That information will available in the Wallet app, so you can access it you're shopping online or in apps.

Apple updates news app, digital wallet; set to enter video streaming

Apple will offer cash back rewards daily to Apple Card customers, a change from monthly rewards from most other cards. The card is integrated into the iPhone, and it's based on Mastercard.

If you're one of those people that doesn't pay off their credit card bill on one go at the end of the month, Apple is trying to make sure you don't overpay the interest.

While there weren't any hints dropped through specific or generic language in these job openings, especially with the partnerships Apple now has with Goldman Sachs and Mastercard, this increase definitely could have raised some eyebrows alongside leaks and other reports about this new development to Apple Pay. Apple Pay Cash is a virtual debit card of sorts that lets users transfer money over iMessage and can also be used as a tap-to-pay tool in stores.

It's a refreshing new take on something we accept for granted.

1 Late or missed payments will result in additional interest accumulating toward the customer's balance. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch and Apple TV.

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