Apple is entering the finance market with a new credit card called Apple Card. The card is integrated into the iPhone, and it’s based on Mastercard.

You can simply sign-up from the Wallet app on iOS and get instant access to your Apple Card without waiting for it to actually arrive. The card can be used to make payments worldwide as well. Apple is improving the Wallet app to add additional functionalities that help you manage your card.

In fact, the integration is so nicely done that you can simply message Apple to manage your Apple Card. You can simply do things like message Apple to change your address or check something about your card, for example.

Apple Card also uses machine learning to display actual, useful details about your transactions. It shows your spending trends, as well as letting you categorise your spending, etc. The service comes with rewards too — it’s called Daily Cash. Instead of giving you points, Apple will simply give you money every day you spend money. “It’s cash, like real cash” You get 2% of your purchase amount every day in Daily Cash with payments made with Apple Pay. And when you purchase things directly from Apple, you get 3% daily cash on your spending. There is no limit on how much Daily Cash you can receive, either.

There are a bunch of different features that help you spend wisely based on your spending and track your existing spending.

Apple Card also doesn’t come with any fees — no late fees, no annual fees, no international fees, or any other fees at all. The company says it wants to offer the lowest interest rates in the industry, and so it partnered with Goldman Sachs for the issuing bank of the Apple Card.

And yes, there is a physical card. It’s made out of  Titanium, and it’s the most secure card with no card number, no CVV code at the back, no signature, or no expiry date. Apple Card will be available later this Summer in the United States:

Tagged with Apple, Apple Card, Apple Pay, Apple Pay Card, Goldman Sachs