Apple Card Said to Launch as Early as First Half of August

Discussion in ' News Discussion' started by MacRumors, Jul 26, 2019.

  1. MacRumors macrumors bot


    Apr 12, 2001

    Apple's highly anticipated launch of Apple Card is on schedule and will launch in the U.S. in just a few weeks, reports Bloomberg this morning.

    According to the report, iPhone users will be able to sign up for the card in the Wallet app, which will have built-in Apple Card support as part of the latest iOS 12.4 update.

    Apple is partnering with Goldman Sachs for the card, which is going to be optimized for Apple Pay but will still work like a traditional credit card for all of your transactions. Apple's virtual credit card will also be available as a physical titanium card for use at merchants that don't accept Apple Pay.

    According to today's report, Apple expressed misgivings in May about the underlying technology Goldman Sachs had developed to power the credit card, and Apple asked the bank for changes to be made.

    However, Apple Card's summer launch still appears to be on track, so Goldman Sachs presumably allayed Apple's concerns in time. The bank is responsible for the underlying infrastructure, managing payment disputes, handling transaction data and collating information for monthly statements.

    Thousands of Apple employees have been testing the Apple Card, which offers 3% cash back on Apple purchases, 2% cash back on all Apple Pay transactions, and 1% cash back on all other purchases.

    According to Apple, signing up for Apple Card will be as simple as opening up the Wallet app, tapping on the Apple Card interface, and walking through the activation steps. Purchases are tracked in the Wallet app, providing a breakdown of spending across different categories like health, food, shopping, and more.

    Bloomberg says Apple has also been discussing an expansion into Europe with financial regulators.

    For a look at the Apple Card and what to expect when it launches, make sure to check out our dedicated Apple Card guide.

    Article Link: Apple Card Said to Launch as Early as First Half of August
  2. Mac Fly (film) macrumors 65816

    Mac Fly (film)

    Feb 12, 2006
    1. Why did Apple need Goldman Sachs and Mastercard to make this card? 2. Do you think it would be Apple’s long-term goal to not need either of those companies for the function of this Apple credit card?
  3. YaBe macrumors 6502a


    Oct 5, 2017
    Goldman Sachs, is all I need to know to know I won't care about this card!
  4. MDalprato macrumors newbie


    Mar 31, 2016
    Faenza, Italy
    I don't know that, but for sure the long term goal will be to create a financial group in order to provide cash and monthly rates in order to buy Apple Products.
    It won't be long until we see something like "Rent an iPhone, iPad and Mac for just 99$ a month and change them every year".
  5. verniesgarden macrumors 65816


    May 29, 2007
    Portland, Or
    a lot of reasons. Infrastructure and antitrust regulations are probably the top two.

    it’s the same reasons that an amazon card goes through another bank.
  6. craigrusse11 macrumors member

    May 24, 2017
    We already have that, it’s called the Apple upgrade program.
  7. shieldcy macrumors member

    Oct 23, 2017
    Apple Card Said to Launch as Early as First Half of August 2019 in the US

    Apple Card Said to Launch as Early as First Half of August 2027 in the rest of the world......
  8. iGeek2019 macrumors newbie

    Jul 26, 2019
    United Kingdom
    If/when it launches in Europe it’ll be interesting to see what rewards they offer given almost all of our credit cards now have no real incentives on the back of the interchange fee cap...
  9. Abazigal macrumors G4


    Jul 18, 2011
    My guess is that Goldman Sachs is the least established of all the options. This allows Apple to have the leverage in negotiations and get more favourable terms.

    And for the long term, I won’t be surprised if Apple goes from simply having a credit card to playing a key part in the country’s financial infrastructure.

    The people who underrate Apple do so to their own detriment.
  10. peterh988 macrumors 6502a

    Jun 5, 2011
    You'd think they'd get it out in time for people to buy their new iPhones with it.

    Sadly, rest of the world will probably suffer the same fate as Apple Cash.
  11. PickUrPoison, Jul 26, 2019
    Last edited: Jul 26, 2019

    PickUrPoison macrumors 601

    Sep 12, 2017
    Sunnyvale, CA
    US only atm. But stay tuned!
  12. dan9700 macrumors 68030


    May 28, 2015
    In the UK we won't have it until 2020, not fairrrr
  13. magicvash macrumors newbie


    Apr 22, 2014
    I hope this will integrate with mint and other financial aggregation services. It’s convenient to see this along with everything else.

    It would also be nice if Apple revolutionized the personal finance space and tried to compete with mint/quicken/etc
  14. Phone Junky macrumors 65816

    Phone Junky

    Oct 29, 2011
    Sunshine State
    Exactly what kind of loss, damage or injury is one expected to incur by underrating Apple?

    [ de-truh-muh nt ]
    loss, damage, disadvantage, or injury.
    a cause of loss or damage.
  15. macmyworld macrumors 6502


    May 25, 2006
    Minneapolis, MN
    “Highly anticipated”? By who?

    Just another credit card.
  16. Marco Klobas macrumors regular

    Marco Klobas

    Jul 14, 2017
    I've read that Apple recently filed trademarks for Apple Card in the Hong Kong, Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK.

    That doesn't mean automatically that these countries will see an Apple Card launch soon, anyway it's a good news.
  17. otternonsense macrumors 65816


    Jul 25, 2016
    Highly anticipated by whom? Goldman Sachs and Apple employees? Nobody outside of the US gives a rat’s rear end about a piece of plastic oh titanium that they don’t stand to benefit from in the slightest.
  18. ParaShot macrumors member


    Jul 15, 2016
    Ankara, Turkey
    I mean we still don't have Apple Pay in Turkey. So for the card probably after 2035 or more I guess..
  19. Abazigal macrumors G4


    Jul 18, 2011
    It impairs their ability to evaluate what Apple does in an objective light.

    Of course there is nothing to lose from being wrong on the internet, so no one is going to be tarred and feathered if and when they mispredicted iPhone X sales based on misleading statements from Apple, or claiming the AirPods and Apple Watch would never take off.

    However, what many critics don’t seem to get is this. At Apple product events, the takeaways often end up being related more to how Apple is setting the stage for the future. Certain announcements and features make much more sense when thinking about what Apple will likely unveil in the following years.

    If people want to focus solely on how the rewards from an Apple Card don’t seem very fantastic compared to some other alternative, or dismiss it as the flailing of a company who has lost its vision, then that is really as far as the conversation goes.

    So yes, like I said before countless times, one underrates Apple to their own detriment.
  20. Phone Junky macrumors 65816

    Phone Junky

    Oct 29, 2011
    Sunshine State
    So basically, you're misusing the word detriment...
  21. Abazigal macrumors G4


    Jul 18, 2011
    Loss. Disadvantage. I am not seeing anything amiss with the way I choose to have said word interpreted.

    You are free to suggest an alternative noun to use in its place, but I think “detriment” has the best ring to it. Don’t you?
  22. bommai macrumors 6502a


    May 23, 2003
    Melbourne, FL
    2% of any transaction through Apple Pay is probably the only deal here. My dentist, mechanic, Best Buy, etc take Apple Pay and the cards I use only give 1%. However all restaurants that take Apple Pay I use other cards that give 3% cash back.
  23. c3pa macrumors member

    Sep 6, 2011
  24. pika2000 macrumors 603

    Jun 22, 2007
    Because of regulations, and since Apple is not a bank. And to be a bank/financial institution, there are a slew of other regulations that Apple would've have to follow. Easier to partner with an existing financial institution with a co-branded product.
  25. wbeasley macrumors 6502


    Nov 23, 2007
    And in Australia, our big four banks will decide that while they hate each other, they will band together to create their own conglomerate competing product "Big 4 Card".

    ANZ will be all for it while doing back room deals with Apple and rolling that out instead.

    Commonwealth Bank will drag their heels, oppose it and then suddenly advertise how wonderful it is they now do Apple Card.

    NAB and Westpac will just ignore it and plod on pretending people don't use Apple Pay on their watches or phones.

    And we will all still be using the Apple Watch Breath app to see how long it takes our government agencies to approve Watch ECG functionality.

    Welcome to the "Lucky Country" 2019.

    Out of interest, what are typical credit card interest rates like around the world? Savings accounts here often make 1% interest, term deposits might get you around 3% yet credit card rates are still up around 22 - 24%: the same as they were when Savings accounts were attracting 8% interest. The cost of providing credit surely must have come down. The high card interest is pure profit.

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