Maximizing technology is a great way to improve people’s lives. On Tuesday, Apple launched its latest feature, the Apple Card. It is created and designed for iPhone users, bringing together all of its features on hardware and software.
The Apple Card supports users in their financial aspect, leading them to a healthier financial lifestyle. It is built with simplicity, transparency, and the most important, privacy. This new product aims to help people gain a better view of how they spend using Apple’s latest technology.
There is a rising problem with today’s generation regarding the control of their finances and how they handle it. With the technology available, like online shopping and purchasing, people had gone on debts and lost control over it, while companies take advantage of this trend. People get to spend more on hidden charges, taxes, interests, and other fees on their virtual carts. Sadly, this has been going on for years and affecting how people live their lives. According to studies, people spend more on things that they see on the internet although unnecessary; leading people to misspend their money.
To solve the issue, there has also been talks on financial help both left and right and from each corner of the world, giving pieces of advice on what to do when problems like these arise. However, if technology continues to be “innovative” in such a way that it still takes advantage of its consumers, this might never get close to an end.
For Apple, introducing its Apple Card gives its users the ability to control and manage their finances properly on their iPhones. This will help their customers manage their finances and their time altogether. It is like a “Buy one, get one item,” according to a loyal Apple Customer.
Jennifer Bailey, Apple’s Vice President of Apple Pay, said that this new feature is designed to help and encourage users to live a better financial life through understanding how they spend their money and balancing the time that they use on their phones.
The Apple Card simplifies application processes, eliminates hidden charges, and also encourages them to pay lesser interest. It is built on their Apple Wallet app and has a similar approach with the Apple Pay. The Apple Card also offers a comprehensive and more precise range of its rewards program, unlike other existing credit cards. There are no worries when it comes to privacy and security, as it well managed by Apple themselves.
It will be available in the United States this summer. Users can sign up for the Apple Card in their Wallet apps on their iPhones immediately. The card also provides users with an easy-to-understand, and real-time views of their transactions and their balances. It is very convenient for iPhone users since it’s a 24/7 app serving their customers at any time of the day.
An exciting feature of the Apple Card is the use of a machine-learning including Apple Maps that is capable of labeling their transactions with the merchant names and its location. The purchases made are also automatically totaled and are organized by categories with color-codes. It will be easier for users to track where their spending goes, and this will help them evaluate their daily expenses.
Aside from this, Apple assures that there are no fees associated with the Apple Card. There will be no annual, international, late, or over-the-limit fees. Interest rates will be lower, and customers will not be charged with penalties for missing a payment.
This will be the first launched in the industry that encourages and promises users to pay fewer interest rates while offering transparency. With this, Apple has partnered with Goldman Sachs and Mastercard for global payment network and issuing bank support. Goldman Sachs creates an environment for users that make sure no third parties for advertising and marketing can interfere with user’s data and privacy while Mastercard provides their cardholders to shop around the globe.
Sometimes, technology overpowers the human’s ability to think and control their daily lives. And sometimes, people think that it is the only technology that can solve their issues especially financial and time management issues. The truth is, a personal problem can only be addressed also by the one who created it in the first place.