Apple first introduced the card back in March and said that it will be available in “summer”. Bloomberg then released a report stating that the two companies have agreed to launch the card in August.
“Thousands of Apple employees are using the Apple Card every day in a beta test and we will begin to roll out the Apple Card in August,” said Tim Cook, Chief Executive of Apple.
The new Apple Card is a credit card created by Apple itself. The tech giant company said that the card represents Apple – simplicity, transparency and privacy. It assembles the comfort and security of Apple Pay.
iPhone users can purchase things easily through the card and claims that the card promotes paying less interest. Apple will also release titanium designed card – an upgraded type of the card which enables its user to use the card anywhere in the world.
Here’s some good news, the card also offers cash-back in the form of Daily Cash. It offers a 1% cash-back when you purchase using the titanium physical card, 2% when using the digital card via Apple Pay and a 3% cashback when using the digital card in purchasing directly to Apple or Apple Store.
“Apple is a great partner and we together are excited about delivering a product that we think customers will love,” a spokesman of Goldman Sachs said in a statement given to Bloomberg.