Apple Card To Launch In The US As Soon As First Half Of August

According to Bloomberg , the much-anticipated Apple Card credit card service will be officially launched in the US in the coming weeks - ea...

According to Bloomberg, the much-anticipated Apple Card credit card service will be officially launched in the US in the coming weeks - early August, which is the "summer" release date that Apple mentioned at the special event in March, where the company also announced services like Apple TV +, Apple Arcade, and Apple News Magazine.

A few days ago, Apple released the iOS 12.4 update, although it didn't mention the support for Apple Card in release notes, as soon as the early August hits, US users should be able to register Apple Card in the Wallet App.

Apple Card, as the name implies, is a credit card service by Apple in partnership with the Goldman Sachs, as the bank is responsible for the underlying architecture of the Apple Card, managing payment disputes, processing transaction data, and organizing monthly statement information.

Although optimized for Apple Pay, it can also be used as a traditional credit card. Apple offers a titanium credit card for use in locations that do not support Apple Pay as well. Apple Card has no fees, it will, however, charge you an interest rate of between 13.4% and 24.4%, Users will receive Daily Cash as well as 1~3% Cashback with purchases made with Apple Card, Apple Pay, and the physical titanium card.

Finally, Bloomberg said Apple is negotiating with European financial regulators and wants to launch Apple Cards in Europe.