What will the launch of the Apple Card for crypto industry bring?

Apple has announced its decision to integrate into the credit card market using Goldman Sachs. Perhaps the company is following the example of such major players as Facebook, who seek to introduce their own payment platforms and currencies for everyday use.

The corresponding announcement of Apple was made at the annual event of the corporation, which is usually timed to coincide with the release of the new Iphone model. This year, the company changed direction, focusing on new projects, including credit cards Apple Credit Card.
The Apple Card (its second name) will work in conjunction with Apple Pay’s own payment platform. Apple Pay is integrated with the Iphone and will allow users to make payments by credit card, without having its plastic counterpart.

The Apple Card has partnered with Goldman Sachs and Mastercard to help present the offer to the Apple community. The payment option will be launched this summer and will include several key benefits: discounts on purchases, the absence of annual or international commissions, and reports on card expenses with full details.

Probably, confidentiality will be one of the key functions, which means that the company will not store data about where and how much money the customer has spent. This information will be available to Goldman Sachs, however, as promised, it will be kept secret.

Entry into the mobile payment space can be a big obstacle for the crypto community, which stands for the introduction of cryptocurrency in mobile payment solutions. This is due to the fact that existing solutions for cryptocurrency payments are inferior to the capabilities of giant companies.

Obviously, processing crypto companies are faced with another challenge, in response to which they will have to develop new, more reliable and simple solutions for transactions with digital currencies.

Since Samsung has already taken steps to introduce a cryptocurrency wallet on the new Samsung S10, it’s likely that Apple is hoping to implement something similar in the future.