Hands On With the New Apple Credit Card
Apple (NASDAQ: AAPL) wants to control your wallet. The tech powerhouse inserted itself into how people spend money when it launched Apple Pay, and now it's taking the new step with its new self-branded credit card.
It's important to note that while the company calls Apple Card a credit card (it's a Mastercard issued by Goldman Sachs) the physical card is actually secondary. This new product is really Apple's attempt to make Apple Pay more relevant and useful by adding a credit component.
Apple wants to change how people use credit and spend money by routing payments through their iPhones. It's a bold play that may work if the company can deliver an easy-to-use credit card alternative that solves traditional pain points in the credit payment system.
Source Fool.com
