Apple unveiled its own credit card, aptly called the Apple Card, a few months ago. The company said that the card will be launched later this year. A recent report had suggested that it may be launched in August. The company has now officially confirmed that.
Apple Card will be available in both physical and digital forms. It won’t have a conventional 16 digit card number, though, or a CVV code and expiration date for that matter as a personal identifier. The card will generate those numbers randomly during each transaction in order to keep purchases secure. The card is backed by Goldman Sachs. It won’t be able to track how much and where Apple Card users have spent and what they’ve bought.
Apple has confirmed that it will start accepting applications for the Apple Card starting this August. The confirmation came during the company’s earnings call for the third fiscal quarter of 2019.
“Thousands of Apple employees are using the Apple Card every day in a beta test and we will begin to roll out the Apple Card in August,” said Apple CEO Tim Cook. He stopped short of providing a precise launch date in the month of August but at least there’s a definitive timeframe now.
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