Apple recently held an event where they announced a bunch of new products and services, one of which is the Apple Card – a new payment processing platform. However, Apple is taking a different approach to its new payment platform by offering users who sign up for it an actual card which can be used for offline purchases.
Apple Card and Everything you need to know
It also has the normal wallet which will live on your phone through which you can use to pay for kinds of stuff online and also sort out your finances.
According to apple, the card will be made with titanium and will have only your name written on it – No Credit Number, No expiration date, No CCV.
They’ve also partnered with Goldman Sachs – A US Bank – which will most likely be the one producing the cards. The service will be available in only the US for now, before expanding to other countries in the future. You can also track your finances using the card app which Apple says doesn’t store any data on their servers and everything is done and saved on your device.
About security, which is a major issue since this deals with people’s money, Apple said nobody can use your Apple card even if they stole your phone as it generates a one-time dynamic code on each transaction you’re about to carry which requires a biometric Authentication/Verification (Touch ID or FaceID) each time.
Your physical card on the other hand, if you choose to get one, can’t be use hacked to as it has only your name on it. All other details about the card are on the Wallet app on your phone. You can also request a new card if you’ve misplaced your old one or just freeze the old card if it gets lost. Then there are cash backs, Apple’s way of rewarding people for using the Apple card. You get 1% back on the total money spend when using the physical titanium card, 2% on Apple card (digital) and 3% on Apple card (digital) purchases directly from Apple.
How to Use Apple Card to buy things Online
- Before you’ll be able to use the Card to make purchases online, first you need to sign up for the service which apple say takes minutes. Locate the Apple card app on your iOS device and Launch it.
- Click on Sign up and fill in the form. You might also be asked to provide some documents, simply do that. Once you’re done, wait for approval and after that, you’re good to go.
- When next you’re about to make purchases online simply choose the Apple Card option and you’ll be asked for verification which you can do via Touch ID or FaceID depending on the iOS device you’re using and Apple does the rest.
- The process will be simple and easy to make use of when it finally shows up on iOS devices. There are still other bits and pieces of the Card we don’t know of yet and won’t know till when it is full widespread.
Also, this is the first iteration and as time goes on, more features will be added to both the physical titanium card and also the wallet app itself to make the experience a lot better.
What do you think of Apple Card? Will you be making use of it? Let us know in the comment section down.
Source and Pictures: Apple