Chargebacks911® COO Offers Insight on Apple Card
Monica Eaton was asked to join a panel of other high-profile FinTech experts and weigh-in on the new Apple Card for HelloGiggles and Yahoo! News. In the post, the experts talk about what makes Apple Card unique, and what advantages it may offer.
Monica is joined by personal finance consultant and educator Kassandra Dasent (@KassandraDasent), and Daniel Gillaspia (@uponarriving), founder of UponArriving.
The Apple Card is a new consumer credit card on offer from tech giant, Apple. The Apple Card card will be available soon through a partnership with Mastercard and Goldman Sachs. The card works directly with the company’s Apple Pay wallet app, but a physical card can be used to conduct transactions as well.
This doesn’t seem overly-radical at first glance; after all, retailers have offered store-branded credit cards for decades. As Monica explains, though, there are significant differences between Apple Card and traditional cards beyond direct Apple Pay integration. “The Apple Card also features a few unique security advantages,” she explains. “For example, the fact the card exists within the Apple Pay environment means there’s no physical card number. This makes it more difficult to steal.”
The nonphysical card, along with other security tools built into the platform like dynamic numbers, tokenization, and biometric authentication, all make for a much more secure payments environment. But, as Monica points out, nothing is ever foolproof.
“Of course, no tool is perfect. For example, a dynamic code won’t matter unless merchants put emphasis on collecting the cardholder’s CVV at checkout.”
