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Apple Card Onboarding Text Revealed

With the release of iOS 12.4 this week Apple is ready to launch Apple Card at anytime this Summer. While looking through the latest beta of iOS 13 I found the Apple Card onboarding text included below. It includes many details such as the requirements to sign up, marketing messages, and privacy.

Photo ID scan

During the Apple Card application process Apple is going to request the typcial pieces of information such name, birth date, contact information, annual income, and Social Security number. Apple will also request a scan of your photo ID. Application information will be shared with a third-party to verify your information (but not stored by Apple).

Goldman Sachs credit evaluation

Intrestingly you may optionally share with Goldman Sachs some of the information Apple knows about you including which Apple products you own. Goldman Sachs will use this information to evaluate your credit i.e. you might have a better chance of getting an Apple Card if you let Goldman Sachs know that you bought a new iPhone, iPad or Apple Watch.

Transaction data in iCloud

Transaction data is stored in iCloud so perhaps Apple Card users can see their transactions on other devices or restore tranaction data when setting up a new device.

Marketing messages

Apple will target users for marketing emails and push notifications based on their transaction history. “For example, Apple may send a message to your device that is relevant to people who typically purchase travel.” Apple might have been able to negotiate reduced fees by agreeing to allow advertising to Apple Card users.

Apple Card on the web

Finally apps and websites will be able to check if you have an Apple Card on account but this can be turned off in the settings. It is not clear what benefit a user gets out of an app or website knowing if the user has an Apple Card.

Apple is expected to start accepting applications for Apple Card sometime this Summer.

Applying for Apple Card

When you apply for Apple Card, your name, birth date, contact information, and device phone number are used by Apple and Goldman Sachs Bank USA, Salt Lake City Branch ( Goldman Sachs ) to verify your identity and to help prevent fraud. Goldman Sachs uses a third-party identity verification service provider to verify your partial or full Social Security number and country of citizenship; Apple does not read or store this information.

If more information is needed to verify your identity, you will be asked to scan your driver s license or state-issued photo ID. The image of your photo ID is securely transferred to Goldman Sachs s third-party identity verification service provider for the purpose of allowing Goldman Sachs to verify your identity and to prevent fraud. Apple does not read or store the image of your photo ID but receives the name and address from your photo ID for identity verification to prevent Apple Card application fraud.

You may have the opportunity to share additional information with Goldman Sachs about your transactions and experiences with Apple as part of your application. If you ask Apple to share this information, Goldman Sachs will receive information about the year you created your Apple ID, the Apple products registered to your Apple ID, and the type of payment method you have on file with your Apple account (for example, credit, debit). Goldman Sachs will use this information along with information obtained from credit bureaus and other sources to reevaluate your application; Goldman Sachs will not use this information for purposes other than assessing and granting credit for Apple Card.

You will also be asked to provide an estimate of your annual income to Goldman Sachs to help them make a decision about whether to grant you credit and the amount of credit to grant. Apple does not read or store your annual income.

Information that you have entered as part of your Apple Card application will be stored on your device up to 30 days so that you can continue and complete your Apple Card application when it is convenient for you. After 30 days, you will need to restart your application to apply. Your application will not be submitted to Goldman Sachs for a credit decision until you accept the Apple Card terms and conditions.

Information about your location at the time you submit your application is used by Apple to prevent fraud.

Paying with Apple Card When you use Apple Card, our issuing bank and payment network partners Goldman Sachs and MasterCard receive information about your transaction, including the merchant, time, and amount in order to operate Apple Card. Neither Goldman Sachs nor MasterCard share or sell your transaction information with third parties for advertising or marketing.

Apple delivers and stores individual transaction information in your iCloud account and keeps your transaction history up to date across your devices. Your transactions are stored in iCloud using end-to-end encryption, providing a high level of data security. Your data is protected with a key derived from information unique to your device, combined with your device passcode, which only you know. Your devices can access or read your transaction history, but Apple cannot access this information. Apple Card features that use your transaction history, like spending summaries, are created on-device.

Apple Card and Location

When you use Apple Card with Apple Pay, information about the merchant and location is sent from your device to Apple Maps in a way that cannot be connected to you, in order to provide enhanced merchant information such as address and contact data. If you use the physical Apple Card, you will have the option to use your device’s location to help Apple Maps identify the correct merchant for the transaction. Apple does not otherwise collect your location for Apple Card.

Apple Card and Analytics

To help improve Apple Card, Apple collects information about the Apple Card application process and the use of Apple Card features in Wallet app in a way that does not identify you personally. Personal data is either not logged at all or is removed from any reports before they are sent by your device to Apple. This information includes the time it takes complete the application and what Apple Card features are most frequently used, such as the monthly activity view.

Apple Card and Communications

Apple may use your Apple Card account status, such as whether you have applied for or have a current Apple Card account, to determine whether a message is relevant to you, including a marketing message. Apple may also send messages to your device, which may use information known only to you and your device, such as your transaction history and location, to help determine whether a message is relevant to you. For example, Apple may send a message to your device that is relevant to people who typically purchase travel. Apple does not need to know whether you purchased travel  your device can use your transaction history to decide whether the message is relevant to you. This helps to ensure that you receive relevant communications, while protecting your privacy. Apple does not know which messages you see on your device.

Anonymous and aggregate information that cannot be tied to you may also be used for Apple Card marketing and other messaging. You may opt out of marketing messages by clicking the unsubscribe link in a marketing email or by turning off notifications for Apple Card.

Apple Apps and Websites Can Check if You Have Apple Card

Apple apps and websites that can check if you have Apple Pay enabled can also check if you have Apple Card. You may disable these apps and websites from checking if you have Apple Card by changing your settings. On iOS, go to Settings > Safari > Check for Apple Pay. On macOS, go to Safari > Preferences > Privacy and deselect Allow websites to check if Apple Pay is set up.

Daily Cash

If you have Apple Cash, your Apple Card Daily Cash disbursements are processed through Apple Payments Inc., a licensed money transmitter that is a subsidiary of Apple Inc. You can learn more about how Apple Payments Inc. protects your privacy by opening Wallet, tapping your Apple Pay Cash Card > & > About Apple Pay Cash & Apple Payments Inc. and Privacy.

Apple Card Support

If you have questions about Apple Card, you can contact support through your Wallet app by initiating Messages. Apple will use any information you share, including personal information, to process your request. If your inquiry must be sent to Goldman Sachs for servicing, Apple will share information about you and your inquiry with Goldman Sachs so that they may better help you. Apple will not retain any personally identifiable financial information that it sends to Goldman Sachs for servicing. You may also contact Goldman Sachs directly with questions by calling 877-255-5923.

Closing Your Apple Card Account

If you close your Apple Card account, information about your Apple Card account will remain in Wallet until you remove Apple Card from the Wallet app.

Updating Your Information

You can update your Apple Card account information by contacting Goldman Sachs. Goldman Sachs may share updated Apple Card account information with Apple for purposes of providing Apple Card services.

More Information

Apple receives anonymous and aggregate information about Apple Card, including information about the use of Apple Card in Wallet. None of the collected information identifies you personally. Apple may use information that does not identify you to improve Apple products and services, for marketing, and for fraud and security purposes. Apple will not attempt to re-identify any anonymous or aggregated Apple Card data we receive.

Apple and Goldman Sachs will use your information as required by law and for fraud prevention. Apple Card-related information may be used by Apple or Goldman Sachs to the extent necessary and required to comply with law or valid legal process, even after you have closed your account.

You can learn more about how Goldman Sachs protects your personal information by reviewing their privacy policy.

By using Apple Card, you agree and consent to Apple s and its subsidiaries  and agents  transmission, collection, maintenance, processing, and use of your information as described above.

Information collected by Apple will be treated in accordance with Apple s Privacy Policy, which can be found at www.apple.com/privacy Your application, account, and device use patterns and settings information will be shared with Apple, Goldman Sachs, and an identity verification service for application processing, identity verification, and fraud prevention. See how your data is managed. You may have the opportunity to share information with Goldman Sachs about your transactions and experiences with Apple as part of your application. Goldman Sachs, Apple Card’s issuing bank, and MasterCard, Apple Card’s global payment network, receive your Apple Card transaction information, but do not share or sell your transaction information to third parties for marketing or advertising. Apple Card features that use your transaction history, like transaction history and spending summaries, are created on-device. Apple does not know your transaction history. Apple Card is designed to protect your privacy and security so that you can focus on your financial health. Information you provide in your Apple Card application will be used by Apple and Goldman Sachs and will be shared with a third-party identity verification service provider to verify your identity and prevent fraud.