Apple Card Tests Expand to Tens of Thousands of Apple Retail Employees: Report
Apple Card is gearing up for its U.S. launch, by expanding tests of the Goldman Sachs-backed digital credit card to retail employees, reports Bloomberg:
Apple Inc. is ramping up a test of a digital-first credit card with Goldman Sachs Group Inc. by expanding its use to tens of thousands of the iPhone maker’s U.S. retail employees.
The Cupertino, California-based company this week launched an internal beta program for the Apple Card with its retail workers, according to people familiar with the initiative. The move marks the first major trial for the card, which has been used for several weeks by a far smaller set of Apple corporate and Goldman employees. Apple has about 70,000 retail employees globally and more than half of its locations are in the U.S.
Apple employees are allowed to use Apple Card to make purchases, but have been told not to talk about the card.
An unnamed source also informs Bloomberg Apple has started discussions with financial regulators in Europe, to potentially launch in the region.
Apple Store employees got notified of the new Apple Card beta test program through an internal message, with the ability to sign up right from their iPhones. Employees testing Apple Card are getting the same APR interest rates of 13.24% to 24.24%, noted people familiar with the matter.
Apple Card offers cash back on purchases of Apple products and has no late penalty fees or foreign exchange fees. The physical version of Apple Card comes in a cool laser-etched titanium, and is available at no cost to users. There are no card numbers on Apple Card, only a user’s name. Time to flex hard on the haters at Walmart, baby.
Back in March, a Goldman Sachs executive stated Apple Card will likely expand internationally, but there’s no word whether Canada will ever get the credit card. We don’t even have Apple Cash yet.