FlyerTalk Forums - View Single Post - Apple and Goldman Sachs to partner on new credit card
Old Mar 25, 2019, 11:55 am
  #17  
tmiw
FlyerTalk Evangelist
 
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Platinum
Posts: 15,486
Originally Posted by Xlr
The physical card looks amazingly well designed, it's a shame they only offer 1% back on it (I assume physical card transactions would have higher theft rates than a fingerprint-verified Apple Pay transaction).
Actually, one of the justifications for the US doing chip and signature rather than chip and PIN is the supposedly low lost/stolen fraud rate (which is what stuff like PIN and biometrics would protect against). The lower cash back rate for non-Apple Pay transactions is likely more to encourage Apple Pay use.
tmiw is offline