Apple and Goldman Join Forces to Launch Credit Card for iPhones

The video discusses the features of the Apple Pay card, highlighting its 2% cash back on all purchases and additional 3% on Apple products. The card is technology-first, issued digitally, with a physical titanium option available upon request. Goldman Sachs, entering consumer finance, aims to target a broader market with this card. Despite expectations of a premium offering, the card is comparable to existing 2% cash back cards from Citi and PayPal, indicating a strategic choice by Apple and Goldman not to focus on high-end rewards.

What type of customers is the cash back card targeting?

How does the new Apple Pay card compare to existing cash back cards in the market?