Back in the spring Apple announced the company will step into the fintech segment of the market with the Apple Card, a credit card backed by Goldman Sachs investments bank. The Apple Card will mostly be virtual and will exclusively work on Apple mobile devices such as the iPhone and Apple Watch and it can be used anywhere where Apple Pay is accepted. People who want to benefit from the Apple Card advantages must follow a pretty strict set of rules.

When signing up for an Apple Card, Apple will ask users to accept a terms of use that is similar to the terms of use we accept any time we create an online account. The difference is that the device on which you are going to use the Apple Card must follow meet a very important requirement while the card has a few restrictions for some types of transactions.


The basic rules are pretty standard however it appears that security is something Apple is paying a lot of attention to. To be able to create an Apple Card account users must first own an Apple ID, which is required for an iPhone, and the ID must be protected through two step authentication.

The Apple Card cannot be used to buy “money equivalents” or to buy illegal goods or on gambling websites. Also, you can’t pay your Apple Card bills with an Apple Card.

And not least, in order to get access to the Apple Card functionality, the phone most not have any jailbreaking software installed. Because unauthorized changes of the iOS operating system can have an affect on transactions, Apple will disable the Apple Card payment on “insecure” devices. This is something we have noticed banks are doing for payment on the Android platform.

Apple Card will first arrive in the United States, just like Apple Pay and it will later become available in other countries.


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