Apple Wants Its Credit Card in Your Digital Wallet

A still from the Hot Lava game on Apple Arcade

At least, that's according to a spokesperson from MasterCard. The card tracks purchases and provides monthly and weekly spending snapshots and trend reports in the Apple Wallet app at a tap.

To use the card, which rolls out this summer, consumers can tap into their iPhone's Apple Wallet app. Every device in your home, auto and office comes from the Apple store (which, coincidentally, is where you hang out on weekends). That's particularly true given that the company has previously expressed its surprise at the slow growth of mobile payments. "It's just delightful. And it's ... going to shock all the traditional credit card holders.", Pliniussen also added. In addition, Apple Pay's face and touch ID security features are also embedded in the card.

The Apple Card pays 2% in cash back on Apple Pay transactions, 3% on Apple product purchases, and 1% on purchases made with the physical card. "You don't need the risk of some waiter writing down your credit card information in a back room".

iOS 12.2 includes new animojis, support for new AirPods and the newly announced Apple News+ and Apple's magazine subscription service. The physical card is to be used where Apple Pay via iPhones is not accepted by merchants.

Although full details remain scarce we do know some of the names that will be producing and staring in its content.

The new Apple feature will be available to owners of the company's later iPhone models, possibly those that support FaceID and TouchID. It will also have games from Annapurna Interactive, Bossa Studios, Finji, Snowman, Giant Squid, Mistwalker Corporation, Klei Entertainment, and many more. Also, with tons of cash at its disposal, it surely has enough to splurge to ensure there is all that the subscriber will ever want. And that doesn't even include Apple Music (which I no longer pay for), or the $20 a month I spend in the App Store on app subscriptions and one-off app purchases (of which Apple gets a sizable cut).

There will be no extra charge for Apple Card, no late fees will be applicable. Also Chief Executive David Solomon will, at a swoop, put the firm on the map in an industry where just four companies - Citigroup, JPMorgan, Bank of America and Capital One - hold half of all US card balances. Apple's Gaming Subscription Service Fans who will sign up to Apple Arcade will be able to download various game titles found in a new tab in the App Store. "Gen Z is going to "hashtag" Apple love this card", he says.

But banks have been increasingly willing to take less favorable deals because post-financial crisis regulations make the credit card business attractive for lenders, which are required to hold less capital against such debt than against other assets. "Apple has joined forces with some of the world's most innovative game developers to push the boundaries of what's possible", the tech company wrote on its website.

The unknown: It's not entirely clear how much news you're getting for your money.

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