According to reports from the Wall Street Journal , Apple and Goldman Sachs would be ready to launch a credit card designed specifically for users of the apple. The report claims that the two companies will start testing the new card in the coming weeks by providing it to employees, while the launch is expected by the end of the year .
The card will be designed to be integrated into the Wallet app , with special integrated functions such as the ability to set savings objectives or tracking expenses. In addition, it seems that the card could offer up to 2% cashback in some stores, and even more by buying Apple products. It seems that the card will work on the Mastercard circuit, but of course there is still no information on availability outside the United States.
Apple and Goldman Sachs have different but complementary interests in this card: it seems the Cupertino company could receive higher commissions (compared to those it has with other banks) for every purchase made with Apple Pay, while Goldman Sachs would be able to reach a very public wider than its usual target.
There is no clear schedule yet if this Apple Credit Card will be available for Filipinos, at least even for the Apple employees.
Although it is not impossible that the Cupertino company will partner with local banks in the later year of 2019.