OREANDA-NEWS. Apple launches its first credit card. In order to enter the financial services market, Apple has entered into a partnership with Goldman Sachs and the Mastercard payment system.

How will the card from the father of the iPhone work? Here are some features:

First, Apple promises that by using the customer card, it will be free from commissions that are usual for loans - annual service fees, late payments and cross-border transfers.

Second, the card for Apple will be issued by Goldman Sachs Bank, it will be integrated into the Apple Wallet application - it can also be ordered through the application. For other cases, it is planned to issue a physical carrier - a card made of titanium. At the same time, there will be a minimum of information on the titanium card itself: the card number, CVV security code, expiration date and customer's name will not be indicated. All this will be only in the cardholder's phone.

Also, the card will be paid cashback. 2% for any purchases through Apple Pay and 3% for payments for products in Apple stores. For a physical card, cashback will be 1%. In this case, the cashback payment will be held daily. The application will be available analytics for revenues and expenses of the cardholder, there will be calculated the cost of the loan.

The important thing is that Apple and Goldman Sachs claim that they will not share users' personal data with partners and advertisers. In addition, companies will not know what the customer has acquired, where he made the purchase and how much money he spent using the Apple Card.

In the US, the map will be available in the summer, there is no data about launch in Russia yet.