When Apple announced its upcoming credit card in partnership with Goldman Sachs, a headline feature of the Apple Card was no fees. In addition, Apple is offering cash-back ranging from 1% for physical card transactions through to 3% for buying Apple products. That has led some to wonder how the company will make money from the Apple Card.
Of course, the card still charges interest on balances which aren’t paid off in full each month, but that’s not the only source of income, say payment industry experts …
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