Apple Launched its Own Credit Card – Will it come to India?

By | April 2, 2019

After disrupting the PC/mobile/tablet industry, Apple is now entering into the world of credit cards. Apple today announced its new credit card, in partnership with Goldman Sachs & Mastercard. As usual, with Apple Card, Apple is attempting to revolutionise the way we use credit cards.

Here are some of the highlights of the card:

  • No Card Number
  • No annual fee, late fee, markup fee, over-limit fee
  • Virtual Card: Works on Apple Pay network
  • Physical Card: Made out of titanium & works on Mastercard Network
  • Rewards: as cash equivalent to “Apple Cash” account.
  • Reward Rate: 3% on Apple store txns | 2% on Apple Pay txns | 1% on Physical card txns
  • Customer Service over Message.
  • Launches in U.S.A this summer 2019

Well done Apple! For those premium customers who just care about simplicity of using a credit card, now Apple has the solution.


Expected After Effects

The launch of Apple Card by Apple is just like a doomsday for the premium credit card issuers, especially American Express. Apple users would tend to use Apple Card over others cards for its ease of usage and other factors of being in the Apple ecosystem.

It may still not be a huge blow, at-least for now, as 1% rewards on non-apple pay spends is bit low for those who’re into travel rewards.

But for majority of iPhone users who’re not much into optimising rewards, they automatically go for Apple Credit Card for higher rewards on apple store spends, just like most of us want the Amazon Pay Credit Card even if we don’t plan to use it as a primary card.

Will it be launched in India?

Not for now! But technically, they can do so if they wish to, maybe after they get traction in US. Not to forget, even Apple Pay is not live in India.

Ideally, we can expect Apple to think about it after ~5 Years down the line, maybe faster if they found a good partnership bank to deal with in India. Also that’s when Indian credit card Industry will shine bright!

While we wait to see the Apple Card in India, for now, its wise to grab the Amex Platinum Travel card for FREE, before the Limited Period offer ends.

What’s your take on the Apple’s new credit card offering? Feel free to share your thoughts in the comments below.

Author: Siddharth

A Credit Card addict, minting reward points & air miles for years. Obsessed with aviation, airport lounges and luxury hotels. Helping Indians choose a right credit card and enjoy luxury travel at affordable cost.

27 thoughts on “Apple Launched its Own Credit Card – Will it come to India?

  1. Maheem

    I don’t think apple card or apple pay is coming anytime soon to India.
    The primary reason being RBI’s and Indian Govt’s directive of localisation of Data.
    Apple till that moment was pretty upbeat about starting its payment service in India.
    However due to the localisation clause, they have put their payment plans in deep freezer.

    Reply
  2. Ameya

    Sid, how will MasterCard or even Apple make money out of this? Is the “No Fees” only an introductory offer or a “feature” Apple wants to sell?

    Reply
    1. Siddharth Post author

      Apple users are premium already. So they’ll spend anyway.

      Maybe even Amex could do these kind of promos, “Get First Year Free if you purchase any Apple device within 60 days” 😀

      Reply
  3. VK

    I really want Apple Pay to launch in India soon.
    They announced it will be available in 40+ countries by the end of this year. Hope India is one of the country.

    I wonder how it will work here as rumors suggest it will be integrated with UPI based system. It’s interesting to know how Apple would strategize since even Paywave network is not widely available in most major chains.

    Apple Card has a long way to come to India 🙂
    But i really want it now!!!

    Reply
  4. Captain Bishuddha Bharatiya

    Thanks for this new news. Its really great to see that you are bringing new content so frequently. Amazing.

    Reply
  5. Akshay Sapar

    Hi,
    I don’t think Apple would launch this card in India, we are yet to receive Apple Pay here.
    This card is itself based on Apple Pay and seeing Apple’s inclination towards India let’s be assured we are not using this card anytime soon!

    Reply
  6. SH

    Alas this will not come to India anytime soon. Apple has shelved their plan to launch Apple Pay in India – due to server localization and authentication issues. Too bad. But this is cool feature indeed and just awesome.

    Reply
  7. Nikhil Mehta

    It is the most simple yet appealing credit card option. Let’s make it simple, how it stands to other cards! 1. These reward programs, points and perks we cannot seat and calculate daily! Thats where the cash back goes better on Apple Card. 2. These programs give cash back or points after some days of usage. That’s where Daily Cash of Apple Card shines. 3. It is into your system throughout if you are using apple devices as of now ! That’s where I forgot my card is not an issue, at least users carry iPhone or watch always. A win for Apple card making its use more simple and always available. 4. No fees on anything. Only interests but on lower side, I did not comapare these however. Unfortunately I did not born in US neither do have a current business in US. I don’t hope it will come to soon as you said for 5 years and more.

    Reply
  8. Ankit Malhotra

    How will customers use it for online purchases and subscription services, if they cant see the card number?
    Does Apple Pay have online integration with US websites so that the card can be used online?
    How would the customers use it online on other international websites?

    Reply
    1. Suresh

      The card number is visible and stored in user’s device. user can see the card number, if he wants to.

      Reply
    2. Datta1108

      In Apple Pay app they can see card number and other details. It’s just that it’s not printed on a physical card.

      Reply
  9. Anand

    It is a visionary and appealing launch from Apple/GS/MC. Let us wait for the US user to comment on the apple service and their experience. To see the Apple card launch in India; Apple need to face the headwinds from RBI and policy makers on 2FA, data localization.

    Reply
  10. Prafulla Mirajkar

    Apple won’t come to India anytime soon. But definitely there is opportunities for others to copy the concept. Especially the mobile app with Rich and interactive features, build quality of card, concept of numberless card. This is going to definitely create a challenge to amex about it’s exclusivity. Already other players hurt their business in USA, this could create further challenges for them.

    Reply
  11. Maheem

    Hi Ankit,

    The card number, exp date, and CVV number are available inside the wallet app (just like some of ICICI credit cards have their info in the imobile app). The customer can use that and transact online.

    Reply
  12. Amex Guy

    For people confused about how to use it on non-Apple Pay websites, you still can see your card number on the app. You can also change it instantly. So the card account has no fixed number, and nothing is printed on card.

    And Apple is not new to this. MC tested this last year with some customers who used a tokenized card. IndusInd in India is testing a similar system where you can keep changing the card number using online account, with nothing printed on the card. Not sure if they will succeed in whatever they are trying — I’ve lost all faith since the blinking card.

    A bunch of US banks, and bunch of Barclays partner issuers will implement a similar system this year.

    Reply
    1. SH

      Well said. The sad thing is that we are not going to see any of this in India anytime soon. But then the reward rate is not anything to write home about either.

      Reply
    2. Vishal

      Please update about the “lovely”card from a “lovely” bank which was to be launched in March.

      Reply
      1. Anoop E S

        Yes. We all are waiting for the “lovely card from a lovely bank”

        Reply
  13. Gaurav Deshta

    AMEX , VISA & MASTER card you will go out of business soon…!!!!

    Reply
  14. D.V.Sathyanarayanaram

    How to apply the Apple credit card and procedure, what is the basic eligibility in INDIA and if there is web sight link to be shared

    Reply
    1. Raj Pandya

      You cant apply for the apple credit card right now as its not available in India and probably not coming anytime soon.

      Reply
  15. Hari

    Apple is sending out invites to people that expressed interest in the card.

    Reply

Leave a Reply to D.V.Sathyanarayanaram Cancel reply

Your email address will not be published. Required fields are marked *