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Even with a few Tense Moments behind the Scenes, Apple Card is Rumored to be Launching Sometime in August

1  Goldman Sach's apple card


In April Patently Apple posted a report titled "Apple Card is the right solution at the right time as 80% of U.S. Adults still Prefer Financial Cards over Mobile Wallets & Cash." The timing of the Apple and Goldman Sachs’s hotly anticipated credit card is now just weeks away from launch. The release will be the culmination of an intense, high-stakes development process for Apple and the Wall Street stalwart, reports Bloomberg.


The Bloomberg report notes that "The Apple Card is targeted to launch as early as the first half of August. That timing means the project is on schedule for the summer release date that Apple first announced in March. People who own an iPhone will be able to sign up for the card via the Wallet app, which will have built-in Apple Card support as part of the latest iOS 12.4 update.


The closely watched collaboration between Apple Inc. and Goldman Sachs Group Inc. represents one of the most ambitious ever attempted between an old-world finance titan and a tech company. It also involved the mixing of two very different corporate cultures as the companies split up responsibilities for the project and worked together on the new technology, according to people familiar with the matter.


Apple designed the card and will handle its software interface for iPhones. Goldman Sachs is responsible for the underlying infrastructure, managing payment disputes, handling transaction data and collating information for monthly statements."


Though as with any new partnership, there were rough edges to work out. Bloomberg's report notes that "In May, Apple expressed concern with the underlying technology Goldman Sachs had developed to power the credit card, according to people familiar with the discussions. At the time, Apple informed the bank that it was unhappy with some of the card’s mechanics and asked for changes. The pressure mounted on Goldman Sachs staffers as the card neared its planned launch date.


The different viewpoints appear not to have derailed the card’s progress toward its summer release. Apple employees and retail workers have been testing the card for several weeks or more, depending on their role at the firm." For more on this story, read the full Bloomberg report.


Is Apple planning a special event for August or will delays put it off until September's event? While only time will tell, the importance of introducing this new credit card with as much fanfare as possible right out of the gate is incredibly important in driving Apple fans to try it out.


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