What is an Apple Card
It is a virtual Bank credit card, Apple’s cooperation with the investment Bank Goldman Sachs. The Apple Card will work in any country where there is a payment system Pay Apple.
At the request of the user map will be available in physical form. It is made of titanium and will not have visible numbers, expiration date and CVV data is stored on a secure chip inside the iPhone that generates a virtual card number for online purchases.
How to get the Apple Card
To get iPhone owners can upgrade the operating system of the smartphone to iOS 12.4. After installing the updates to apply for the Apple Card will be via the Wallet app.
The Corporation has produced a series of videos, which explains how to make and use a credit card.
How to apply:
How to activate:
Apple has not yet announced the date of launch of the product in Russia. In a press-service Apple told Rusbase that “Apple Card at this point is only available to users in the United States.”
Features Apple Card
The card holder will be available with information on the amount of the payment, the place and time of the transaction, while the Apple will not have access to this information, reported by a Corporation. Goldman Sachs also will not be able to use data on purchases of owners of Apple Card for marketing purposes.
Credit card the Apple Card will not be able to pay for crypto-currency, lottery tickets, chips in the casino and bet on the sweepstakes, reported Goldman Sachs.
“The Apple Card, it is gaining immense popularity in the Russian market. This primarily happens due to the fact that the card free service. For Apple to add to its ecosystem, new customers are more important than transitory income.
Each product evokes the desired emotion: just open and plug. A new card will be release within 30 minutes and immediately start to use it,” said co-founder and CEO of marketplace Oskelly albert Oskanov.
Cashback on the map
Owners of the Apple Card will return 1% of the amount of a purchase using a physical card and 2% of the purchase amount for transactions via Apple Pay, and 3% of the amount after purchase from Apple.
“The Apple Card offers cashback of up to 3%, but in this matter it will be difficult to compete with the Russian players”, — said the head Oskelly.
Co-founder Oskelly predicts that Apple will enter into a partnership with one of the leading technologically advanced banks in Russia. As examples Oskanov resulted in “Alfa-Bank” and the savings Bank.
Rusbase also sent a request on the Apple Card in Russia with the CBR, but to date have not received a response.
According to managing partner Loup Ventures Gene Munster cited by Reuters, in the first year of the project does not show any significant profit for Apple. However, by 2023 the income from the Apple Card could reach $1.4 billion, adding about 1.8% of the total measure.
Cover photo: Apple.
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