Apple to launch credit card paired with iPhone

Apple to launch credit card paired with iPhone

Apple and Goldman Sachs are teaming up to create a joint credit card, according to a new report.

Apple will reportedly have a different kind of product launch later this year: a credit card, jointly operated by Goldman Sachs.

Similarly, it is also worth noting that Goldman Sachs too has committed a total of United States dollars $200 million in order to build the digital infrastructure for this latest credit card system.

AppleMagazine will bring you the latest on the new Apple credit card as and when we get it. That's up from 36% estimated in the September quarter, and 20% percent for the December quarter of 2017.

The card will use the MasterCard payment network, the Journal reports.

The credit card will integrate with Apple's iOS Wallet app.

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Now for most people, Apple is a technology company that designs, develops, and sells consumer electronics, computer software, and online services.

In order to prepare, Goldman is undertaking a $200 million project, including adding customer-support call centers around the country and building an internal system to handle the payments.

The credit card is to be tested on employees of both companies in the next few weeks, with an official launch planned in the U.S. later this year. Goldman Sachs on the other hand deals in multinational investment banking and financial services.

WSJ notes that, while investors once needed $10m in fun (d) money for Goldman bankers to bat an eye, Marcus customers can now open accounts with just a Washington in their pocket. The company has already partnered Barclays to issue Barclaycard with Apple Rewards, by which users can earn points from purchases made at Apple or elsewhere, which can then be converted to Apple Stores or iTunes Store coupons.

As rumors go, this one is certainly interesting.

Both Apple and Goldman Sachs are banking on this credit card being a success.

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