Name: Apple Introduces Its Own Credit Card: Apple Card
Uploaded: 2019-03-25
Duration: 5 min 12 s
Description: VP of Apple Pay Jennifer Bailey shows its features.

[ MUSIC ] We wanna take the Apple pay experience even further. And we saw an opportunity to transform another fundamental method of payment, and that's the credit card. Today, we're introducing a brand new service And we call it Apple Card. [ APPLAUSE ] Apple Card is designed to take advantage of the power of the iPhone. This means it can do all sorts of things that no other credit card can do. For starters, you don't have to wait days to get your card. Just sign up on your iPhone, and in just minutes, you get your Apple card and you can start using it right away. You can use it worldwide, anywhere with Apple Pay. In apps, in stores, on the web and your Apple card will be available across all of your Apple devices. Apple Card is also always with you because it's in your iPhone in the Wallet app. And the Wallet app has completely new capabilities. So you can see everything you need to know about your Apple card, what you've spent, how much you spent, and when your payment is due. Many of you looking at your credit card statements today might recognize seeing transactions that look like this. Cryptic merchant names that are pretty hard to decipher. With Apple Card we use machine learning and Apple Maps to transform this mess into names and locations that you'll recognize. Apple Card also automatically organizes and totals your purchases. So you can see how much you spent, and exactly where you spent it with Apple Maps. And you can keep track of your spending by categories like food and drink, shopping, entertainment and more. Where each category is represented by it's own color like orange for food and drink. An Apple Cart also shows you how your spending is trending week over week or month over month. So you can decide in real time if you need to Or want to change your spending. [ BLANK_AUDIO ] Next up let's talk about rewards. Most rewards programs use points. With points, you're never quite sure how much they're worth or where or when you can use them. With Apple Card, we want you to get the most for your money. So every time you spend with Apple Card, you get cash back and you get it every day. It's my favorite feature and we call it Daily Cash. [ APPLAUSE ] So when you're buying your morning coffee, shopping for groceries, and any time you pay using Apple Card You get daily cash, not a month from now but every day. So every day you spend, cash is added to your apple cash card which also in the wallet app. And it's cash, like real cash so you can do anything with it. [ LAUGH ] Use it to pay down your balance. Spend it wherever you use Apple Pay. Or send it to friends using messages. In fact, every time you pay with your iPhone or Apple watch. You'll get 2 % of the purchase amount in daily cash. [ APPLAUSE ] And the amount of daily cash that you can receive every day is unlimited. So that's daily cash. Every day cash for you. How great is that? [ APPLAUSE ] [ APPLAUSE ] This is how most cards show your payment options, with an emphasis on minimum payments, which cost you a fortune in interest, and seem to be designed to keep you in debt. With Apple Card, our goal is to help you save on interest. So we start by making it easy to see a range of payment options. And because Apple Card calculates interest in realtime, as you select different payment amounts, you can make a more informed payment decision understanding the true cost. Apple Card does not any fees, no late fees, no annual fees, no international fees, and no over- limit fees. [ INAUDIBLE ] [ APPLAUSE ] To create a credit card you need a bank. And to create a credit card as innovative as Apple Card. We needed a bank that was willing to do things that had never been done in the industry before. So we partnered with Goldman Sachs as the issuing bank of Apple Card. As a newcomer to consumer financial services, Goldman was up for the challenge of doing something more bold and more innovative. We're also excited to be working with MasterCard who has been a fantastic partner on Apple Pay from the start. With MasterCard's global payment network, Apple Card will be accepted all over the world. [ MUSIC ]

Apple Introduces Its Own Credit Card: Apple Card

VP of Apple Pay Jennifer Bailey shows its features.