Soon every credit card will be like Apple Card

Apple’s plan to transform the world of credit cards in the image of Apple Card seems to have progressed further than anyone might have thought, thanks to a top-secret project with Mastercard…

Innovate everything

The news is that Apple, Goldman Sachs and Mastercard have been quietly working together to make similar technologies available for use by other card issuers.

Payments Source claims the project has been ongoing for 18-months and means banks will be able to use Mastercard’s system to offer digital-only cards.

Managed using apps, these will supplemented by physical versions that – like Apple Card – dispense with CVC and PAN numbers and carry no user information. 

This doesn’t mean every bank will introduce such cards, but those who do choose to do so will get to begin doing so in six months’ time, the report claims.

Unique selling points

That every card issuer will eventually offer these app-savvy digital cards was never in much doubt. The success of these things from digital fintech challengers such as Revolut make such moves inevitable.

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