Every Apple customer in the US can now own an Apple credit card, making credit as private as cash. The card is launched by Goldman Sachs and is processed Mastercard. Sans fees or a physical form, it is meant to be used more like an app on Apple Pay. It comes with embedded privacy, that out of cash transactions usually doesn't offer.
Currently, credit card companies including American Express and Mastercard sell transaction details to hedge funds and other financial organisations. But Apple will ensure that your spending habits aren't shared with advertisers or service providers.
There are cash-back benefits if the card is used with the Apple Pay app. “Apple Card is big, but it's also a beginning," Goldman's CEO David Solomon said. With the credit card launch and upcoming Apple TV launch, the tech company hopes to get back some of its sizzle it had in the smartphone market.
