Apple begins the rollout for select users
Apple has started the preview roll-out for the 'Apple Card' for selected customers that had signed up for the card release. The sign-up process needs iPhones running on iOS 12.4, wherein users will have to enter their personal information that includes birth date, address as well as last four digits of the social security number.
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The information further would be sent to multinational investment bank Goldman Sachs that will approve or decline the application in real-time. As per Apple, the process will take less than a minute.
The Apple card will be both digital and physical that will need no number, expiration date or CVV security code.
The card will come with the benefits of instant approval and zero fees for missing deadlines or going over the limit as well as daily cash back on purchases.
Apple Card will use Machine Learning and Apple Maps for labelling the transactions with merchants name and location.
The purchases are organised by the colour-coded category like shopping and entertainment as well as food and drinks.
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