Apple Card pilot expands to ‘thousands of retail workers’

Apple expands Goldman credit card test to thousands of retail workers — Bloomberg — “The Cupertino, California-based company this week launched an internal beta program for the Apple Card with its retail workers, according to people familiar with the initiative. The move marks the first major trial for the card, which has been used for several weeks by a far smaller set of Apple corporate and Goldman Sachs employees.”


Banks balk at Apple Card business

A Goldman Sachs rival pulled out of the Apple Card deal on fears it will be a money loser — CNBC — “‘Dude, if that portfolio ever makes money, I’m buying you a beer,’ an employee at the card department of a big bank texted a Goldman staffer… Citigroup was in advanced negotiations with Apple for the card but pulled out amid doubts that it could earn an acceptable profit on the partnership, according to people with knowledge of the talks… Goldman is ‘thrilled’ to be partnering with Apple, according to Andrew Williams, a spokesman for the New York-based bank.”


Mastercard to make Apple Card technology available to other issuers

Inside the Apple Card: Mastercard’s ‘digital first, physical optional’ platform — PaymentsSource — “Following about 18 months of secretive development with Apple and Goldman Sachs, Mastercard is ready to bring the same offering to other issuers. Its platform carries over many of the features that Apple Card users will get, according to Chris Reid, Mastercard’s executive vice president of cyber intelligence and data services for North America.”


Apple to include an NFC tag in Apple Card packaging

Apple Card’s colorful packaging revealed ahead of launch — Cult of Mac — “The photos of Apple Card were published by leaker Benjamin Geskin, who claims that Apple employees are now getting their hands on testing units… To activate the Card, customers simply unlock their iPhone and then hold it against an NFC tag that’s hidden inside the packaging. This adds the Card to the Wallet app and lets you use it right away.”






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