View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Company news
July 26, 2019

Apple credit card set to debut next month

The much anticipated Apple credit card is expected to be launched in the first half of next month, Bloomberg reported citing sources familiar with the matter.

Earlier in March this year, the tech-giant announced that it is planning for summer-release of its new offering.

Apple has been working with Goldman Sachs Group on its new credit card. iPhone customers can sign up for the card through the Wallet app.

Recently, Apple released the iOS 12.4 update of its Wallet app to enable iPhones and iPads work with Apple Card.

On the credit card project, Apple and Goldman Sachs Group, both from different industry verticals, split up their responsibilities to deliver the offering, sources told the publication.

Apple designed the card, while Goldman Sachs is responsible for the underlying infrastructure, payment management and transaction data.

The product is primarily designed to work with Apple Pay.

Currently, Goldman Sachs has dozens of employees working on the Apple credit card project, with additional employees assigned in satellite offices.

Goldman Sachs spokesman was quoted by Bloomberg as saying: “Apple is a great partner and we together are excited about delivering a product that we think customers will love.”

Last month, it was reported that Apple has initiated expanded trials of the credit card. The trial programme, which involves Apple’s retail employees, was designed to assess the performance of the card before commercial launch.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International