Apple's CEO Tim Cook has confirmed that the iPhone-centric credit card, Apple Card will be available in the US sometime in August. While Cook has not given a specific date or launch details for the Apple Card, the company will begin accepting applications in August, it confirmed during its 2019 third fiscal quarter earnings call.
Apple has already explained a fair amount about the card, stating that one signs up for it from an iPhone and can use it either through Apple Pay or through a titanium card the company will provide. The Apple Card will not use a traditional 16-digit card number, CVV code or expiration date. Instead, it will generate the numbers randomly during each transaction to keep purchases secure. The company has also promised that Goldman Sachs, the creditor, won't be able to track and see what a consumer has shopped for and how much money they have spent. Apple is also offering incentives for cashback rewards, such as 2 per cent back on purchases made with Apple Pay or 3 per cent for Apple store purchases.
Bloomberg first reported that the Apple Card would launch in August and users will be able to sign up for the card via the Wallet app in iOS 12.4, which was released to the public last week. Apple CEO Tim Cook said, “Thousands of Apple employees are using the Apple Card every day in a beta test and we will begin to roll out the Apple Card in August."
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