Apple to launch credit card

Tech major Apple on Monday announced a credit card for iPhone users. It will be launched in the United States in summer.

There will be both an iPhone and a physical version of the card. The credit card will have no late fees, annual fees or international fees, said Apple Pay Vice President Jennifer Bailey. She added that there will a cashback incentive on every purchase.

The card has been created with the help of Goldman Sachs and MasterCard.

To get an Apple Card, users will be able to sign up on their iPhone in the Apple Wallet app and get a digital card that they can use anywhere Apple Pay is accepted.

The physical titanium card, however, will not have a credit card number, CVV, expiration date or signature. All those information will be stored directly in the Apple Wallet app. “Apple doesn’t know what you bought, where you bought it, and how much you paid for it,” said Bailey.

The company also announced its TV streaming platform, Apple TV+.Director Steven Spielberg unveiled the streaming platform which will be launched in autumn. Spielberg will himself create some material for the new platform. The app will be available on smart TVs, Amazon’s Firestick and Roku.

Apple also announced that it will launch a news service, Apple News+, which will include over 300 magazines like Marie Claire, Vogue and Rolling Stone. The company said it will not track what users read or allow advertisers to do so. Apple News+ will cost $9.99 per month and is already available in the US and Canada. The news platform will only be available on Apple devices.

The tech giant has also come up with a gaming platform called Apple Arcade. It will offer more than 100 exclusive games from the app store. The games can be played offline. It will be rolled out across 150 countries in autumn.