Despite the turmoils the Apple Card is facing now, the Big Tech company announced for the first time its stats with the fintech service, claiming that it has now a total of 12 million users in the US. It is widely known that the Apple Card is a US-exclusive service only, with Apple not yet branching out to other countries due to regulations and policies when it comes to financial services.
Moreover, Apple also boasts of the $1 billion total cashback it gave customers for 2023 alone, with massive returns to users for only using the credit card.
Apple Card Boasts 12 Million Total Users in the US
(Photo : Apple)
In a company-first press release from Apple, the company has shared details on how the Apple Card service grew through the years, now boasting of more than 12 million users signed up for the credit card experience. The Cupertino giant said that through the service, it is helping customers live "healthier financial lives".
For a total of five years from 2019 until now, Apple grew its fintech business to whopping numbers, including a slur of features available under the service. This includes the likes of the Apple Card Savings which offer massive interest rates for customers looking to keep their money on the banking experience, as well as the Apple Card Family.
Of the 12 million users, 30 percent are still active in using the Apple Card, accounting for customers who make two or more payments in a month.
Additionally, 1 million Apple Card users are under the Apple Card Family service, with around 600,000 customers building credit equally.
However, Apple has one more Apple Card feature which boasts of massive numbers, and this is with its cashback feature that returns user payments for eligible services, restaurants, and the like. Apple said that a total of $1 billion in cashback was sent out to customers for 2023 alone, also offering top security measures for the service.
Apple Card and What the Service Has to Offer
Since it launched in 2019, the Apple Card has been one of the popular fintech services among the many available ones in the US, with this exclusive credit card in the country offering easy use.
Despite issuing plastic cards to customers of the service, the Apple Card is also available to add to the iPhone, iPad, or the Apple Watch's Wallet app for the tap-to-pay experience.
However, there are reported issues that Goldman Sachs, Apple's partner in the service, faces with the continued use of the Apple Card and its other services. While both already established an intuitive service alongside its Apple Card Savings venture and the cashback experiences, the financial institution wants to drop out and have others fulfilling their role in the partnership.
There is still no news regarding who will succeed Goldman Sachs and fulfill the financial features offered by the Apple Card services, but for now, it does not affect its use.
Throughout the past years, Apple Card remained a popular service among Americans for all their spending needs with a growing 12 million userbase and massive cashbacks offered, expected to bring more in the future.
