India, Jan. 7 -- Apple Inc. and JPMorgan Chase announced that Chase will become the new issuer of Apple Card, replacing Goldman Sachs Bank USA. The transition is expected to take place over approximately 24 months, subject to regulatory approvals. During this period, Apple Card users will continue to use their cards as normal, with Mastercard remaining the payment network.
Apple emphasized that users will retain the Apple Card experience, including up to 3 percent unlimited Daily Cash back on purchases, easy-to-navigate spending tools, Apple Card Family, access to a high-yield Savings account, and more. With Apple Card Family, users can share an account with members of their Family Sharing group. Apple Card Monthly Installments (ACMI) will...