Apple Card made the world about credit card on its head this week . Backed by Mastercard and Goldman Sachs, this is Apple's brand new credit card that lives on your iPhone and lets you pay for goods and services online and in stores. It's based on Apple Pay, a mobile payment system based on your existing credit card, which Apple has had in place since 2014. Using your own debit card, rather than piggybacking on your bank card, is a bold move for Apple that no other media giant has sought , also Google and Samsung, two companies that also have robust mobile payment systems.
Will a digital Apple credit card finally make mobile payments ubiquitous? What types of benefits will the owners receive? How does it affect their credit if they change phones? You are full of questions, and we are too. Unfortunately, we do not have them all. What we have is the details we got from the company's special event yesterday .
This is all we know about the Apple Card so far – including great prints – and what we haven't read yet.
What is the Apple Card?
Apple Card is a new branded credit card for iPhone ($ 1000 on Amazon) user. It is both a digital card that lives on your iPhone, with a traditional credit card backup that you can use where Apple Pay is not available. (It seems that everyone gets this when they sign up.) But Apple thinks you're using the digital version predominantly.
The physical Apple card is made of titanium and has your name etched on it, just for a little drama, and then you can show off by clinking it high on a glass.
Where can I use Apple cards?
You can use Apple cards in apps, online (eg online stores) and in physical stores, anywhere in the world where MasterCard is accepted. (More about the bank aspect below.)
How do I register for the Apple Card?
Apple Card will live in the Wallet app on your iPhone and you sign up by tapping Apple Short Message in your wallet. Apple will walk you through the registration process. You can also register if you are interested in more information along the way.
Will it work with my iPad and Apple Watch?
Yes, Apple says Apple Card will work on all your iOS devices. We need to confirm if it will work with MacOS, iPhone, iPad and Apple watch.
What's next with the Apple Card?
There are many details that we still do not know, such as The exact launch, any hidden charges, how the Apple card can affect people with low or no credit and when the exact card should be started. Apple will undoubtedly share more in the coming months. Until then, we can only hope that more prenbits will flow out.
Article published March 25 at 12:01 p.m. PT Last update, March 26 at 8:00 p.m. PT : Added more details.