Apple had presented the Apple Card – its physical bank card – in March with the promise of a release date “this summer”, without any details however. Bloomberg announced today that Apple and Goldman Sachs are planning to launch the Apple Card in the first half of August, so in a few weeks.
The Apple Card will first be launched at United States, then at Canada before being available in Europe. When available, users will be able to register using the Wallet app on their iPhone, provided they have already upgraded to iOS 12.4.
The Apple Card is presented as a credit card created by Apple, not a bank (despite the close partnership with Goldman Sachs, the bank that issued the Apple Card). Users will be able to use the card with Apple Pay, view expense history tables, receive notification alerts, and manage their balances all on their phones.
The card will be free and therefore will not impose any costs. It will be made of titanium and will offer cash back : 3% for purchases made at Apple, 2% for purchases made with Apple Pay and 1% for purchases made directly with the Apple Card.