Apple’s launch of their much-anticipated Apple Card credit card is said to be readying for a launch in the U.S. sometime in the next few weeks.
Bloomberg‘s Julie Verhage and Mark Gurman on Friday reported the launch is on schedule for the summer release date that Apple announced in March, and should launch sometime in the first half of August.
iPhone users will be able to sign up for the card in the Wallet app, which will have built-in Apple Card support as a part of the recent iOS 12.4 update. Once approved, users can immediately begin using the new card with Apple Pay in stores, apps, or online.
Today’s report says Apple had expressed some misgivings back in May about the underlying technology financial partner Goldman Sachs had developed to power the credit card, and requested changes. Since the summer launch still appears to be on track, Goldman Sachs must have responded promptly and fixed the issues causing the concerns.
Thousands of Apple employees have been testing the Apple Card, which offers 3% cash back on Apple purchases, 2% cash back on Apple Pay transactions, and 1% on all other purchases.
Apple Card gives customers easy-to-understand, real-time views of their latest transactions and balance right in Wallet, and Apple Card support is available 24/7 by simply sending a text from Messages.
Apple Card uses machine learning and Apple Maps to clearly label transactions with merchant names and locations. Users will see their purchases automatically totaled and organized by color into color-coded categories such as Shopping, Entertainment, Food and Drink, and many more. Customers will receive weekly and monthly spending summaries.
The Bloomberg report says Apple has been in discussions with European financial regulators about Apple Card expanding into Europe.
