The new Apple Card offers some unusual security features, all designed to prevent this credit card’s number from being used without authorization, either in a store or online.
The fact that the card number isn’t printed on it anywhere is just the start. “The real key to the enhanced security here is happening behind the scenes,” said Craig Vosburg, President of Mastercard North America.
Against all odds, Apple’s introduction of its “Apple Card” credit card managed to outshine Hollywood’s finest stars at yesterday’s keynote event. Among the card’s nifty features, Apple promised an interest rate among the lowest in the industry.
But is it? Details on the new Apple Card website include the “lower interest rates” in their footnotes. And while they’re certainly not excessive, they’re also not quite as low as you might think.
If, like me, you live in the U.K., you get bad weather, gray skies, and a baffling international reputation for bland cuisine and poor dental hygiene — but also free London travel for certain Apple Pay customers on selected days in January.
U.K. MasterCard customers in London can take advantage of a great Apple Pay promotion right now — with the ability to use London’s tubes, buses and trains for free for the next four Mondays, starting today.
Samsung’s new phablets aren’t the only thing we got out of its Unpacked event in New York City today; the South Korean company also announced a launch date for its new mobile payments service. Samsung Pay will be coming to take on Apple Pay in the U.S. on September 28.
Apple wasn’t kidding when it said Apple Pay would transform mobile payments. Built around easy of use and security, Apple Pay is the industry’s first solution that benefits users and banks.
The security aspect of Apple Pay has been especially crucial to its early success, and now the big credit card companies have been spurred to follow suit. Today both Visa and MasterCard announced new security initiatives to protect against cyberattacks. Visa in particular has borrowed one of Apple Pay’s key ideas: tokenization.