Apple Launches Credit Card, What Does It Mean for Crypto?

Apple Card

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We don't yet know how much Apple Arcade, the company's new subscription gaming service, or Apple TV+, its premium video streaming service, will cost, but consider Apple's silence a good sign they'll get premium price tags to match the content.

With Apple Pay, Apple has done as much as anyone to popularize contactless payments in the U.S. Despite this, it seems that the new physical titanium Apple Card won't offer contactless payments when used in stores that don't accept Apple Pay (or anywhere else for that matter). The Company is partnering with Goldman Sachs to make its own credit card available this summer.

"Apple Card is created to help customers lead a healthier financial life, which starts with a better understanding of their expenditure so they can make smarter choices with their money, and have a better understanding of their financial life", Bailey added. The card expands the company's digital Apple Pay services, marrying the physical card to a virtual one and integrating both with the iPhone. Consumers will enjoy a $2 cash back every time they spend, although that rate increases to a $3 cash back if they make purchases from Apple. And it really is cash.

The great thing about the Apple Card is that, compared to traditional credit cards, it will not have any late, global usage or yearly fees.

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Activating or pairing the Apple Card is very similar like pairing your AirPods with iPhone ie; just bring your card closer to an unlocked iPhone and the card pops up and will activate same as like AirPods. Apple also announced plans to update its TV app, so users will be able to subscribe to other video services like Showtime and Starz (which is already a feature of Amazon and Roku). Consumers can also use a map feature to track down where an item was bought, if they don't remember making the purchase. That could entice some of the 1.4 billion active Apple device users to take the card. The Wall Street firm has also denied itself the chance to offset its generosity with high interest charges - the card's rates will be "among the lowest in the industry". That's why users will not have to move about this card all the time. Let's take a look at everything we know about the card. "You don't need the risk of some waiter writing down your credit card information in a back room".

Apple on Monday said that it had joined forces with Goldman Sachs Group Inc to launch the Apple Card for iPhones.

Likewise with TV+, News+, and Apple Arcade - these pricey services aren't necessarily unique, but they'll be far easier to set up and use than any of their competitors.

Apple Card clearly labels transactions with merchant names and locations via machine learning and Apple Maps. However, a company like Apple, which is famous for its tight security and protection of privacy and has plenty of experience with using copyrighted media, shouldn't allow shenanigans like that with its services, especially ones that are just released and gathering subscribers.

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