While Samsung unpacked its new family of Galaxy S10 phones, Apple is reportedly getting into the credit business teaming up with investment firm Goldman Sachs to issue its own physical credit card that will offer customers perks.
If you thought Apple fans were snobs wait till this credit card goes live.
According to the Wall Street Journal, the tech giant will be partnering with Goldman Sachs to issue a credit card that will be paired with a new iPhone feature, of course, that will allow users to manage money, debt, rewards and other tools.
The card will be offered to Apple staffers for a trial run according to report and will feature visuals from the Health App like “rings” to help you manage spending habits. The card which can be added to Apple’s Wallet App will use Mastercard’s payment network and off perks like up to 2 percent on cash back on most purchases and possibly more when you swipe your card to purchase Apple products.
As to what Goldman Sachs hopes to get out of this joint venture? Well, it hopes the new card will attract Apple’s insanely loyal fanbase to its Marcus online bank. The investment firm according to the WSJ is investing $200 million which will go towards the backend infrastructure such as an internal system and customer support call centers to help handle payments.
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