This article originally appeared on ZDNet.
Apple on Monday announced an extension of its Apple Pay service, launching an Apple-branded credit card that offers a streamlined application process, daily cash back and enhanced security. The product was announced during Apple’s services event on Monday.
Jennifer Bailey, VP of Apple Pay, said Apple Card will give people more insights into their finances, like for instance how much you’ve spent, or when your next bill is due.
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It also uses machine learning and Apple Maps to transform the lists of transactions that are normally found on a credit card bill into recognizable locations. In terms of security, Apple Card purchases are authenticated with Touch Id or Face ID.
“We created a unique architecture for Apple Card where Apple doesn’t know what you bought, where you bought it or how much you paid for it,” said Bailey.
What’s more, Apple Card partner Goldman Sachs will not share or sell user data to third parties for marketing or advertising, Bailey said.
Apple Card will be available in the Wallet App and on other Apple devices.
More to come…