Apple lets its credit card holders defer April payments amid the coronavirus

Apple and Goldman Sachs are allowing Apple Card customers to defer their April payments without penalty in order to help those impacted by the coronavirus pandemic, Bloomberg reports.

Some 47 million people have lost their jobs due to the force shutdown of non-essential business and the firms are hoping the ‘Customer Assistance Program’ will help elevate some of the financial burden.

‘We understand that the Covid-19 situation poses unique challenges for everyone and some customers may have difficulty making their monthly payments,’ Apple wrote in an email to card customers.

‘If you previously enrolled in the Customer Assistance Program in March, you will need to enroll again.’

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Apple and Goldman Sachs are allowing Apple Card customers to defer their April payments without penalty to help those impacted by the coronavirus 

Apple said customers interested in taking advantage of its program will have to contact customers support by sending a text message that reads, ‘I would like to enroll in the Customer Assistance Program’ –  there is a link on Apple Car’d support page that allows you to send them a message.

The program was rolled out for last month and those who had enrolled need to do so again for April.

For those wanting take advantage of the offer, it’s important to notify Apple. Just skipping the monthly payment without notification will count as a missed payment. 

The coronavirus (COVID-19) first made headlines in December 2019, when cases began popping up in Wuhan, China.

Within a few weeks it had spread throughout the country and has now infected nearly every part of the world.

The coronavirus (COVID-19) first made headlines in December 2019, when cases began popping up in Wuhan, China. Within a few weeks it had spread throughout the country and has now infected nearly every part of the world

As of Wednesday, there are more than 853,900 cases and over 42,300 deaths reported around the globe.

Apple has followed suit with other large scale financial institutions in its decision to halt interest as a mitigation effort for people burdened by the coronavirus pandemic. 

This month, banks in the UK deferred mortgage payments while the US temporarily halted interest payments on student loans. 

Those measures could make a major difference as the pandemic forces people to stay home and shutters businesses around the world.

Apple’s credit card was released last year and  is powered via a partnership with Goldman Sachs and MasterCard.

Among its defining features is its lack of card number, opting instead to use a virtual number that is stored in a secure chip inside the iPhone.

That means the physical Apple Card has no number displayed on its matte surface, which the company has touted as an extra layer of security.

There are also no annual or late fees, or charges for international and over-the-limit purchases and interest rates — originally hyped as ‘among the lowest in the industry — come in at an APR of 12.99 percent.

HOW DOES APPLE PAY WORK?

Apple Pay is the firm’s mobile payment and virtual wallet service.

It allows customers to make payments using an iPhone, Watch, iPad or Mac. 

It works alongside most banks and most major credit and debit cards providers including Visa, MasterCard and American Express.

To use the services, users must link their device, security details and bank card.

To do this, open Wallet, go to settings and find Wallet and Apple Pay in there.

Apple Pay is the Apple’s mobile payment and virtual wallet service. It allows customers to make payments using an iPhone, Watch, iPad or Mac

Here, you can add credit or debit cards.

Before it is activated, the device needs to be authenticated by the bank.

Each bank has different protocols, but their security measures will have to be passed before Apple Pay is fully verified.   

After your card is verified, you can tap Next and start using Apple Pay.

Apple Pay requires the Near Field Communication (NFC) antenna and Touch ID or Face ID on iPhone 6 and later to work. 

Once set up, you can hold your device near a contactless terminal to authorise a payment.

For most iPhones double pressing the home button will bring up the Apple Pay function, which will use your fingerprint to confirm the transaction. 

On the iPhoneX, users must press the sleep/wake button twice to invoke Apple Pay.