Newspapers largely shun Apple's news subscription service

Apple Announces Gaming Subscription Service

With its renewed foray into payments, Apple is ditching many common markers of the physical product: its card won't have a number, security code, an expiration or space for a consumer's signature. By tapping on the card within the Wallet app, you can see your recent transactions, broken down by category with colors.

Launching in the USA first Apple has insisted News+ will feature over 300 magazines that include Esquire, National Geographic, Men's Health and more.

But Apple said it wants its card users to settle their balance flexibly.

The unknown: What sort of credit score you need to get approved, as well as exact interest rates. Cook said the new product is built on simplicity, transparency and privacy, and created to help customers to pursue a healthy financial life.

Now, let's talk about the reasons that could discourage users from applying for Apple's credit card. (Sorry android users). Another "check" it can add to your list is that it is simplistic, does not require laborious applications, adds more privacy and its colorful display and plain symbols makes it easy to understand and have your financial life healthy.

Essentially, Apple wants to be similar to a pay TV provider where you can sign up to certain channels and different streaming services and have them delivered in the same place, and presumably take a small cut for facilitating the sign up for a new service or "channel". Apple has said that the interest rate will be "among the lowest in the industry" and that cardholders will not be charged annual, late, worldwide or over-the-limit fees.

Should UK banks be anxious? For purchases made by means of the App Store, iTunes, or other direct-from-Apple purchases, you'll get 3% cash back.

Apple Announces Gaming Subscription Service
Apple announces mobile subscription video game service, Apple Arcade

As David Brear from fintech consultancy 11:FS tweeted: "This isn't a drill banks".

Large banks such as JPMorgan Chase & Co and Bank of America Corp have pledged to introduce more so-called contactless cards in the United States, prompting larger merchants and transit systems around the USA to accept them. Some large US banks are now also testing virtual card numbers that are assigned to specific merchants. And, if you hate when you leave home without your credit card, that won't be the case with the Apple Card.

On face value, Apple's latest product launch might have seemed underwhelming - especially for Australians and New Zealanders. The company advertised an Apple Credit Card in 1986 that was "worth up to $2,500 of instant credit". While Apple will broaden the distribution of its content to non-Apple hardware and spend $1 billion on original shows, that is a fraction of what Netflix, HBO and Amazon spend.

Aside from the flash metal card, Apple is expanding the functionality of its Wallet app to include digital banking features - like spending categorisation - that will look very familiar to users of Monzo, Revolut and their fintech peers over the past few years.

"We've been doing this, and more, for two years".

But banks have been increasingly willing to take less favourable deals because post-financial crisis regulations make the credit card business attractive for lenders, which are required to hold less capital against such debt than against other assets.

Apple didn't disclose what percentage of merchant fees it will collect from Apple Card transactions. Rossman said yet another branded credit card, the Uber Visa card, comes out on top with 4 percent cash back on dining purchases. "We think players of all ages are going to love Apple Arcade". The card will also give you smart payment suggestions so that you pay more than you usually would; hence, you can pay off your balance faster, which can also help you save on interest.

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