Apple has unveiled a new credit card and a movie streaming service as it seeks to become a major player in the financial and television industries.
The Apple Card, backed by Mastercard and Goldman Sachs, has no fees and dispenses with PINs, expirations dates, signatures and security numbers.
Instead, Apple will let users sign up for the card on an iPhone and load the card digitally on to their phone’s Wallet app.
A physical credit card by Apple has also been launched.
The card will first be launched in the US before it is introduced across Europe later.
The system will provide a daily cashback system and bills will show businesses’ names, instead of codes.
The card will also allow users to keep track of their spending by category.
The move will be seen as a major shot across the bows of banks. It will also be a significant challenge to the rapidly growing payment service Revolut.
Apple also unveiled a new film and TV streaming service yesterday, featuring its own original shows, movies and documentaries.
Apple TV+ will take the form of an ad-free subscription service and will be going up against streaming giants such as Netflix and Amazon.
At its launch event in California, Apple showcased some of the stars behind the new programmes and films, including Oprah Winfrey, Steven Spielberg, Jennifer Aniston and Reese Witherspoon.
The service will kick off in the autumn, when pricing and availability will be announced.
Ireland is expected to be one of the countries that will be on the initial launch list.
Apple also launched a news app called News+, which will be available in Europe later this year, and Apple Arcade, a gaming platform.
The Apple launches signify an attempt by the company to become a bigger player in the entertainment and financial industries.
With iPhone sales now flattening out, the world’s second most valuable technology company is looking for substantial new lines of business.
Its music streaming service, Apple Music, has already risen above 50 million paid subscribers.
Other recently introduced products include its wireless earphones, known as AirPods.