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Apple Card Being Tested Among Employees: Report

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Apple Inc. launched an internal beta program for its new credit card with its U.S. retail workers, Bloomberg reported Thursday, citing people familiar with the matter.

The Apple Card was introduced by Apple in March this year in partnership with Goldman Sachs Group Inc.

The move marks the first major trial for the card, which was earlier used for several weeks by a far smaller group of Apple corporate and Goldman employees. Apple has about 70,000 retail employees globally and more than half of its locations are in the U.S.

The internal testing with a wider group of employees will reportedly enable Apple to identify any shortfalls of the card before it is launched.

Apple Card is built into the Apple Wallet app on iPhone and is designed to be used in concert with Apple Pay, Apple's digital wallet. Apple is partnering with Goldman Sachs and Mastercard to provide the support of an issuing bank and global payments network.

According to the Bloomberg report, Apple employees are testing the Apple Card in the Wallet app on iOS 12.4 and iOS 13.

iOS 12.4 is expected to roll out this summer and include support for the Apple Card. Apple announced its next major iPhone operating software update, the iOS 13, earlier in June.

According to the Bloomberg report, the test versions of the Apple Card seem fully functional, with features like daily cash back, bill pay and technical support through text messages all operational. The employees can also see the order status of the physical card.

The card comes with a rewards program called "Daily Cash," which is added to customers' Apple Cash every day and can be used right away for purchases using Apple Pay.

Customers will get 3 percent Daily Cash on all purchases made directly with Apple, 2 percent cash back on Apple Pay transactions, and 1 percent cash back on payment with the physical card.

There are no fees associated with Apple Card, including annual membership fee, late fee, international fee or over-the-limit fees.

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