Apple Credit Card to launch in the US; Will iOS 12.4 get the service?

Apple credit card to drop in the US on August

Money is taking huge steps towards a millennial symbol status. Apple makes it worthy to its users for a credit card. The news is correct from people inside the tech giant. During the WWDC 2019, the unnamed Apple credit card was flagged off.

Apple credit card will be integrated with Apple wallet

The reports are accurate, and it will be available from the first two weeks of August.  Its availability around the globe is still blundered. But upon its launch, only the US will get access to it. The feature of the credit card is still under the hood.

Apple credit card to drop in the US on August

Apple wallet to be integrated with the credit card
Credits: Komando

Good news for all the iPhone users, they can access the card via there Apple wallet. The wallet will have a card update concerning iOS update 12.4. Although every bank function can be done via the wallet app.

This is the first time; Apple is keeping steps in the world of banking, whereas the Apple credit card will be available both physically and digitally. The card dissociates with the Apple logo on the titanium plate. It will also not carry any CVV or credit card number like others.

Goldman Sachs to take care of banking functions

The new millennial card will work like other average cards. Every new purchase of different genre will be divided into a new category. For example, a coffee and a croissant will have a class as food and drinks. Also, there are no transaction fees involved while using the credit card.

The company will also give a rebate of 1% on using the card. Likewise, 2% and 3% for every purchase from Apple pay and Apple products respectively.

Apple credit card to drop in the US on August

MasterCard to handle payment function for the card
Credits: CNBC

Goldman Sachs will manage most of its banking functions. Whereas, MasterCard already being a partner will take care of side functions. From an interview with Bloomberg, Goldman Sachs spokesperson is happy with the collaboration with Apple. The tech giant didn’t make any comments concerning the Apple credits card.

For more details and updates, check The Geek Herald.

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