How to wean Apple iPhone owners from other credit cards

Yesterday Apple unveiled its new service Apple financial Card is a credit card issued jointly with the Bank Goldman Sachs. And although it most likely will not work in Russia a few years, it is interesting to see how Apple basically forcing iPhone users to become clients of the “new Bank”.

In the United States for some time it works other financial service Apple — Pay Cash, which allows you to send money directly through iMessage. A thing easy, and many people use this feature, however, after the announcement of the Apple Card , the Corporation has made an important change in this service. Now, with insufficient balance cannot be recharge Apple Pay with Cash credit card.

In other words, if the user of Apple Pay, the Cash is active credit cards of the Bank, he doesn’t send money, using funds in their credit account. Obviously, this was done in order to continue, he abandoned the traditional banking services in favor of “credit cards” Apple Card.

The Apple Card will not have service fees and offer lower interest rates than other credit cards, along with a cashback scheme offering 1% for transactions using physical cards, 2 % for transactions using Apple Pay and 3% on purchases of Apple products and services.

As one would expect, the card is mainly intended for use in a Wallet app with a wide range of opportunities monitoring and analysis. For example, the Apple Card uses category of expenses with Analytics to help you understand the structure of your purchases. However, as an option will also be given a minimalistic physical map, which probably will cost extra fee.

The Apple Card will be available in the summer, initially only in the US but is likely to appear later in other countries.

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