Note: For Apple card wanna-be owners, to have a good understanding of how credit cards work, read this great article from creditcards.com
"The money on your Apple Cash card can be spent using your iPhone, iPad, Apple Watch, and Mac."
The wallet application developed by Apple which supports Apple Card, and is part of the upgrade of the operating system to iOS 12.4, will enable you, if you are an iPhone user to present a card for debit whenever you want to make a purchase. A closer observation shows that card owners will be able to return 1% of the amount of the purchase made using the Apple card, 2% of the amount of purchase made via Apple Pay, and 3% of the amount of purchase via Apple services.
There seems to be a whole lot that went into the development of the Apple Card concept, which is now a reality to behold. Apple and Goldman Sachs notably both contributed resources to the remarkable project. Goldman Sachs as an investment bank is charged with the role of processing transactions, monitoring reports and the total handling of financial dealings in the operation of the Apple card. Apple on the other end of the spectrum is the sole designer of the Apple Card and it's software user interface on the iPhone.
The Apple Card is scheduled for launch this August in the coming weeks.