Apple has made its first foray into financial services with a numberless credit card that CEO Tim Cook calls the most significant change to card payments in 50 years.
The Apple Card is designed to work with the iPhone and is said to add privacy, security and transparency to the typical experience of using a credit card.
For one, the physical credit card is optional. The titanium laser-etched card has no numbers ? not the card number, not the expiration date and not the CVV security code ? because that information is stored securely in the iPhone.
If users need it, they can access their number through Apple's Wallet app using Face ID or Touch ID. However, the tech company envisions most payments being made directly through the iPhone via Apple Pay. Apple is launching its first credit account and card with account information stored securely on the iPhone
It also promises not to track payment data ? information that only card partner Goldman Sachs will have, and which it has promised not to sell or share with third parties for marketing or advertising purposes.
This feature is designed to attract consumers who want more control over personal data, and shows Apple once again using privacy to distinguish itself from competitors.
In January, during the CES tech show in Las Vegas, it took out billboards proclaiming "What happens on your iPhone, stays on your iPhone".
"The unique security and privacy architecture created for Apple Card means Apple doesn't know where...