Apple announced Tuesday it will now accept applications for its Apple Card credit card from anyone in the U.S., reports Cnet.com. The retail giant, which did an invite-only soft launch for the card earlier this month, has made the card available and managed entirely on the Apple Wallet app on mobile devices, where users can also apply for the card with the touch of a button. The Apple Card is designed to be used with Apple Pay, but users can request a physical card free of charge. Apple is partnering with Uber to offer 3 percent daily cash back on Uber and Uber Eats purchases when paying with Apple Pay, as well as a variety of "Daily Cash" rewards such as 3 percent back on purchases of Apple products.
Total Retail's Take: Retail credit cards aren't a new offering by any means, but Apple has set out to take its card to another level. The card promises an extremely seamless experience, living right in the Apple Pay app that every iPhone user automatically has on their device, taking away the need to ask consumers to download another app. Users can also access every level of interaction with their card, from purchases to management to monthly payments, at their fingertips. Apple is also hitting the growing consumer awareness of privacy and security concerns. The credit card uses Apple Pay's mobile security features, such as Face and Touch ID, and the physical card has no numbers, making it much harder for credit card scammers to use the card.
Michael Jaszczyk, CEO of GK Software USA, comments, "by promoting digital credit cards and contactless point of sale, Apple is accelerating a shift in customer behavior and frictionless checkout. With consumer financial incentives aligning with the experience incentives of faster and more secure transactions, it’s easy to imagine that retailers offering these options will be the ones earning customer loyalty.” It will be interesting to watch how many consumers begin using this new card in the coming months, and if the security and cash back promises hold up in the long run.
Kristina Stidham is the digital content director at Total Retail and sister brands Women in Retail Leadership Circle and Women Leading Travel & Hospitality at NAPCO Media. She is passionate about digital media and handles video, podcast and virtual event production for all brands. You can often find her at WIRLC, TR, WLT&H or industry events with her camera and podcasting equipment—or at home on Zoom—recording interviews with thought leaders and business executives.
Kristina holds a B.A. in Media Studies and Production from the Temple University Klein College of Media and Communication in Philadelphia. Go Owls! When she's not in the office, she loves to go on long walks, sing around the house, hangout with her family and two pet guinea pigs, and travel to new places.