CUPERTINO, January 24 — Apple has announced that JPMorgan Chase will become the new issuer of Apple Card, with the transition expected to take place over approximately 24 months.
During this period, Apple Card users will continue to enjoy the existing features of the card, including up to 3 per cent unlimited Daily Cash back, intuitive spending tools in Apple Wallet, Apple Card Family, access to a high-yield Savings account, and Apple Card Monthly Installments.
Mastercard will remain the payment network, ensuring continued global acceptance and benefits. Apple said there will be no immediate changes for users, who can continue using their Apple Card as usual throughout the transition.
Apple vice president Jennifer Bailey said Chase shares Apple’s commitment to innovation and consumer financial health, while Chase CEO of Card & Connected Commerce Allison Beer expressed excitement over deepening the partnership.
Mastercard also reaffirmed its role in supporting secure and seamless payments. Further details and updates will be communicated closer to the transition date, Apple added.
