Can Apple Take On Visa And Amex With Its New Credit Card Service Apple Card?

Apple CEO Tim Cook introduces Apple Card during the launch event at Apple headquarters on March 25, 2019, in Cupertino, California. Apple announced its move into banking with the imminent launch of Apple Card, a primarily virtual card issued by Goldman Sachs in partnership with Mastercard, that will sit on all Apple devices in the Apple Wallet but will probably be largely used via the iPhone or Apple Watch.

Apple has always taken an intuitive approach to everything it designs and the Apple Card is no different. The main criticism of credit cards has always been their propensity to encourage users to spend more than they earn so that they can not afford to pay off the balance each month and rack up huge debts. The Apple Card is designed to help users 'lead a healthier financial life.

This should be one of the most secure credit cards on the market, with each Apple Card's unique card number stored in the iPhone's Secure Element security chip used by Apple Pay and all purchases requiring authorization via Apple Face ID or Touch ID and a one-time unique dynamic security code. The way the Secure Element security chip is created, means that Apple has no access to the user's purchasing data.

If you have a statue of Steve Jobs in your living room, and make a ton of Apple purchases this card might be for you. However, I’m struggling to see the how the credit card’s value measures up the the hype. Many better credit card options at this point in time. TheFreeRetiree

As Kevin Hart would say, Apple 'is about to go down'

Magnesis couldn’t. Why would apple think they can?

If it has a bitten Apple on it there will always be a group of people that don't care about features, safety, etc. They will want to have it.

Apple security is so bad, I remember all the leaked celebrities photos so well. Why trust them with your money?

No 🤣

I want it.

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Goldman Sachs CEO says Apple Card 'completely changes the credit card experience'The Apple product is meant to be simple and transparent, and that ethos meshes with the stated principles of Goldman's consumer finance division. Wayyyyy behind Venmo LOL!! A credit card that help an individual 'lead a healthier financial life'? Credit is what gets most people in trouble... HAHAHHA ...
Source: CNBC - 🏆 12. / 72 Read more »