What is the difference between Apple Pay cash and Apple Card?

Apple Pay Cash vs. Apple Card: What’s the Difference?

Apple Pay and Apple Card are two different payment services offered by Apple. Apple Pay is a mobile payment and digital wallet service, while Apple Card is a credit card. Here’s a breakdown of the key differences between the two services:

1. How they work:

• Apple Pay: Apple Pay is a mobile payment service that allows you to make payments using your iPhone, Apple Watch, or iPad. You can use Apple Pay in stores, online, and within apps. When you make a payment with Apple Pay, your device communicates with the payment terminal using near-field communication (NFC). This creates a secure connection that allows you to make payments without having to hand over your physical credit or debit card.
• Apple Card: Apple Card is a credit card that is issued by Goldman Sachs and branded by Apple. You can use Apple Card to make purchases anywhere that accepts Mastercard. When you make a purchase with Apple Card, you can choose to pay it off in full each month or carry a balance.

2. Fees:

• Apple Pay: Apple Pay is free to use. There are no fees for sending or receiving money, or for making purchases.
• Apple Card: Apple Card has no annual fee. However, there is a variable interest rate on purchases, which ranges from 12.99% to 24.99%.

3. Rewards:

• Apple Pay: Apple Pay does not offer any rewards for using the service.
• Apple Card: Apple Card offers a number of rewards, including:
  • 2% Daily Cash back on all purchases made using Apple Pay
  • 3% Daily Cash back on purchases made at Apple Stores and on Apple products
  • Unlimited 1% Daily Cash back on all other purchases

4. Security:

• Apple Pay: Apple Pay is a secure payment method. When you make a payment with Apple Pay, your device communicates with the payment terminal using NFC. This creates a secure connection that prevents your credit or debit card information from being intercepted.
• Apple Card: Apple Card is also a secure payment method. Your card number is stored securely on your device and is never shared with merchants. When you make a purchase with Apple Card, a unique token is generated that is used to complete the transaction. This helps to protect your card information from fraud.

5. Availability:

• Apple Pay: Apple Pay is available on all iPhone, Apple Watch, and iPad models that have been released since 2014.
• Apple Card: Apple Card is available to US residents who are 18 years of age or older.

Which service is right for you?

Whether Apple Pay or Apple Card is right for you depends on your individual needs and preferences. If you’re looking for a convenient and secure way to make payments, then Apple Pay is a good option. If you’re looking for a credit card that offers rewards and has a low interest rate, then Apple Card is a good option.

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