Ever since iOS 12.4 beta started back in May, we've been waiting for the promised "summer" release of the Apple Card. During testing, the iOS 12.4 update appeared to show no new features, and it was thought to be made in preparation for the release of Apple's credit card. July 22, iOS 12.4 was released, with no Apple card in sight.
A new report from Mark Gurman and Julie Verhage at Bloomberg now claims that the update actually contains the necessary code to support the Apple Card, and that the launch comes in the first half of August ̵
iPhone users will be able to sign up for the Apple Card in the Wallet app and should be able to start using it within minutes. While the card, issued by Goldman Sachs and running on the MasterCard network, is in many ways a fairly standard cash-back card, it has a number of interesting and unique software and privacy features. You can read more about it in our frequently asked questions about the Apple Card.
According to the Bloomberg article, the project is shared between the two companies in ways you can expect:
Apple designed the card and will handle the software interface for iPhones. Goldman Sachs is responsible for the underlying infrastructure, handles payment disputes, handles transaction data, and collects information for monthly statements.
Goldman Sachs currently has dozens of people working on the product from their headquarters in Manhattan, plus other dedicated satellite office employees. said the people. The Apple side of the project is managed by the company's Apple Pay and Wallet app team.
There has not always been a smooth sailing. The Bloomberg article says Apple's feathers were curled just a few months ago: "At that time, Apple informed the bank that it was unhappy with some of the card's mechanics and requested changes. The pressure put on Goldman Sachs employees as the card approached the scheduled launch date. "
Apple has not updated the availability of the Apple Card since it was introduced in March. The company promised release this summer and has not changed or expanded the message.