Apple has partnered with Goldman Sachs to offer a privacy-protected credit card that has no signature, card number or any other personal information except your name.
The card is tracked through Apple Pay, so users can manage the account through their iPhone. It allows users to track their spending and receive reports on their phones both weekly and monthly. This is to provide users with information about their spending habits to better inform their spending decisions.
What is really interesting about the idea is that Apple says it will not track what cardholders are buying, and will not store or sell users’ data. Even more exciting is that Apple says its partners Mastercard and Goldman Sachs won’t sell your data either. On top of that, purchases have to be authorized by Face ID or Touch ID, so credit card theft will be minimalized.
Offering privacy protections like this for a credit card is a game changer and a welcome market strategy.
Date: April 02, 2019
Source: Data Privacy + Security Insider