Wednesday, October 21, 2020

Apple launches its virtual credit card in association with Goldman Sachs

Featured

GIP releases inaugural annual report at second plenary meeting

The Second Plenary Meeting of the Green Investment Principles for the Belt and Road (GIP) was held today in...

Pakistan re-elected as member UNHRC

Pakistan has been re-elected to the United Nations Human Rights Council (HRC) with an overwhelming majority securing 169 votes...

Indonesia to host Trade Expo Indonesia 2020 Virtually

The Government of Indonesia is once again hosting its biggest annual international business exhibition, the Trade Expo Indonesia (TEI)...
Izaan Zubair
Izaan Zubair
Izaan's expertise in technology urged him to write on emerging inventions, Hardware, Cyber-Security, Mobiles and so on. He is currently studying Machine learning, and aims to master it. He can be reached at: [email protected]

Apple launched its virtual credit card Tuesday after working with Goldman Sachs on the new iPhone extension, which could help diversify the technology giant’s sales away from hardware.

Apple announced the virtual credit card in March with the aim of attracting iPhone users by issuing a card that guarantees its holder to recover 2 percent of the value of purchases and not pay any fees when using the ApplePay service, an application for managing money and focusing on data privacy.

Apple said a limited number of consumers who showed interest in the card would be alerted by Tuesday’s alerts asking them to register.

The card is designed to work on iPhone where the user can sign up for the card and start using it immediately after obtaining the approval of Apple.

Read also: Apple seeks to introduce “credit card” for iPhone users

Apple offers the option of extracting an actual titanium card, but this virtual credit card will not carry any numbers. The virtual credit card number will be stored on a secure chip inside the phone and the chip will create virtual numbers for electronic or dial-up calls that require numbers.

Apple Inc. focused on privacy, saying that the purchase information would be stored in the user’s phone and could not see the information. Goldman Sachs will not be allowed to use data for shopping purposes even if this is to sell other Bank products.

Revenue for an Apple-sized company, with sales of $ 265.6 billion in fiscal year 2018, will not be as important as making customers closely linked to Apple’s brand, analysts said.

“If it works, it will be a new impetus that will keep you abreast in the Apple environment even if something better emerges,” said Ben Bajarin, an analyst at Creative Strategies.

Read also: Apple unveils its credit card

Izaan Zubair
Izaan Zubair
Izaan's expertise in technology urged him to write on emerging inventions, Hardware, Cyber-Security, Mobiles and so on. He is currently studying Machine learning, and aims to master it. He can be reached at: [email protected]

Latest News

GIP releases inaugural annual report at second plenary meeting

The Second Plenary Meeting of the Green Investment Principles for the Belt and Road (GIP) was held today in...

Pakistan re-elected as member UNHRC

Pakistan has been re-elected to the United Nations Human Rights Council (HRC) with an overwhelming majority securing 169 votes in the 193-member UN General...

Indonesia to host Trade Expo Indonesia 2020 Virtually

The Government of Indonesia is once again hosting its biggest annual international business exhibition, the Trade Expo Indonesia (TEI) on 10 – 16 November...

The World Health Organization warns countries not to be complacent in measures to prevent Corona

The Executive Director of the World Health Organization's emergency program, Dr.Mike Ryan, has warned all countries of the world against negligence in following the...

South Korea records 102 new cases of coronavirus

South Korea's Quarantine Command Center said today, Tuesday, that the total number of people infected with Covid-19 rose to 24,805, an increase of 102...

Related News