Apple is on track to launch its own credit card this month, and a new report shed more light on the upcoming collaboration with Goldman Sachs.
A new report from Bloomberg‘s Mark Gurman and Jennifer Surane explains that the iPad will offer a dedicated app for signing up for and managing Apple’s upcoming credit card. Additionally, the report notes that the Barclaycard Visa no longer offers Apple rewards.
Bloomberg says the dedicated Apple Card iPad app has been confirmed by references hidden in iOS 12.4, found by developer Steve Moser. The iPad requires a standalone app for the card due to the restriction of the Wallet app to the iPhone and iPod touch.
Additionally, the Barclaycard Visa no longer offers Apple rewards, explains the report. The card had previously offered rewards like $50 USD worth of iTunes or Apple Store gift cards to new customers, and three points per dollar on purchases of Apple products. The card is still available and still offers special financing rates on qualified Apple purchases.
In related news, the report explains that Apple Card holders will be offered separate financing plans for certain purchases, in addition to the ability to carry a revolving balance. Such a financing plan could allow users to make a large Apple purchase and pay it off over a set amount of time by paying a fixed monthly fee.
During Apple’s quarterly earnings call earlier this week, CEO Tim Cook said the credit card’s rollout would begin sometime this month. The use of the word “rollout” implies a gradual launch, perhaps with Apple and Goldman Sachs only approving a percentage of applicants at the start as the service ramps up.