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Apple teams up with Goldman Sachs to bring a credit card to market

a Cupertino, (CA) .- Apple today announced an alliance with one of the largest investment banks in the world, Goldman Sachs, to market its own credit card, Apple Card, which will have both physical and digital versions and will not charge commissions of any kind.

To obtain it, users must request the card through their digital wallet of the iPhone, the Apple Wallet.
In addition to Goldman Sachs, the company that runs Tim Cook has also reached an agreement with MasterCard to carry out the payment process.

The card can be used in any establishment that accepts the payment system of the company, Apple Pay, and will compensate all purchases with a “premium” of 2% of the money spent (3% in the case of purchases of Apple products), in case of using the digital version and 1% if the physical card is used.

“We all need them, but there are some things about the experience of using credit cards that could be much better,” Cook said during the presentation, referring to “simplicity, the absence of commissions, low interest rates and the best prizes “of Apple Card.

This new service from Apple can be used anywhere in the world without having to pay international commissions as long as Apple Pay is accepted, and it integrates all the usual features of credit cards: check the history of purchases, information about payments and invoices , etc.

The Cupertino, Calif.-based company also explained that it will use artificial intelligence to make store names in the purchase history easier to identify and appear by their full names, rather than acronyms or alternative names.

The company stressed its respect for the privacy of users and assured that Apple will not know “what is bought, where it is purchased or how much was paid for it” and, with respect to security, explained that the physical card does not include a number or date of expiration, since these are registered in the digital version. (EFEUSA)

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