The leading tech company, Apple Inc. has partnered with Goldman Sachs to unveil Apple Card, a credit card that can be used to cater for all transactions. The apple card is designed to be used primarily on Apple devices such as iPhone, iPad, Apple Watch, or Mac.
Although it is optimized to be used on Apple Pay – a payment platform that allows one to make transactions with one’s iPhone or Apple watch, it can also be used for the traditional payments.
Users can access the mobile Apple Card by signing up using their iPhones or other Apple devices through the wallet App or get their physical Apple cards and pair with their devices.
What you should know: The Apple card has a number of features that distinguish it from the regular credit card. One of these is the daily cashback offer. The physical card offers 1% cashback, the virtual card offers 2% cash back on Apple Pay purchases and 3% back on purchases from Apple. The cash back is delivered daily to your Apple Cash balance or to the card monthly as a credit balance if you don’t have or want an Apple Cash account.
No penalty/ extra interest rate: Another feature worthy of note is the fact that Apple does not charge you an extra interest rate when you fail to pay up on time. You will continue to pay your agreed-upon interest rate on your outstanding balance, but that rate will not go up.
[READ ALSO: This is how Cryptocurrency works]
Tracked spending: The Apple card uses machine learning and Apple Maps to help customers better understand their spending by clearly labelling transactions with merchant names and locations in the wallet. It also provides weekly and monthly spending summaries for the users.
Meanwhile, Apple card is presently available for only customers in the United States.
Jack Dorsey’s Square set to acquire majority stake in Jay Z’s Tidal for $297 million
Jack Dorsey’s company, Square set to acquire Tidal, the streaming music service owned by Jay-Z for a $297 million deal.
Square, the mobile payments company owned by Jack Dorsey, announced on Thursday its plan to acquire a “significant majority” of Tidal, the streaming music service owned by Hip-hop music mogul, Jay-Z.
Square said it expects to pay $297 million, in a combination of cash and stock, for a stake in Tidal. Shawn “Jay-Z” Carter will join Square’s board, subject to the closing of the transaction while Tidal will operate independently within Square.
Existing artist shareholders will still remain stakeholders. Other Tidal artist-owners include Beyoncé, Alicia Keys, Coldplay’s Chris Martin, Kanye West, Madonna, Nicki Minaj, and Rihanna.
In a tweet made by Jay-Z today, he highlighted that “from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers. Artists deserve better tools to assist them in their creative journey.”
He also commented that “Jack is one of the greatest minds of our times, and our many discussions about TIDAL’s endless possibilities have made me even more inspired about its future. This shared vision makes me even more excited to join the Square board.
“This partnership will be a game-changer for many. I look forward to all this new chapter has to offer!”
Jack Dorsey, who is CEO of both Square and Twitter, also commented on this deal “comes down to one simple idea: finding new ways for artists to support their work.”
“New ideas are found at intersections, and we believe there’s a compelling one between music and the economy. I knew Tidal was something special as soon as I experienced it, and it will continue to be the best home for music, musicians, and culture.”
Jesse Dorogusker, a Square executive will lead Tidal on an interim basis. He added that Square will offer financial tools to help Tidal’s artists collect revenue and manage their finances. “There are other tools they need to be successful and that we’re going to build for them,”.
What you should know
- Last month, Jack Dorsey and Jay-Z announced a Bitcoin fund focused on developing the cryptocurrency’s adoption in Africa and India.
- In 2017, Sprint bought a 33% stake in Tidal. This week, Jay-Z bought back those shares from T-Mobile (which acquired Sprint).
- Last month, Jay-Z announced that he would sell 50 percent of his champagne company, Armand de Brignac — better known as Ace of Spades — to LVMH Moët Hennessy Louis Vuitton amid a downturn in the entertainment industry caused by the pandemic that has affected some of Jay-Z’s holdings.
Ngozi Okonjo-Iweala resumes first day as WTO Director-General
Dr Okonjo-Iweala officially resumed duty as the DG of the WTO today, March 1, 2021.
Dr. Ngozi Okonjo-Iweala, former Nigerian Finance Minister and the first woman and African to be appointed as Director-General of the World Trade Organization resumed her first day of work as WTO chief.
This was disclosed in a social media statement on Monday morning by the WTO. Okonjo-Iweala said the WTO has lots of work to do and she feels ready to start
The trade organisation said: “Welcome to Dr Ngozi Okonjo-Iweala, on her first day as WTO Director-General! She makes history as the first woman and first African to take up this post.”
On her first day, Dr. Iweala said she is “coming into one of the most important institutions in the world and we have a lot of work to do. I feel ready to go.”
Director-General @NOIweala & the chair of WTO fisheries subsidies talks @WillsSantiago welcomed civil society's plea for a successful conclusion to the negotiations, visiting today an ice sculpture set up in front of the WTO headquarters by the #StopFundingOverfishing coalition. pic.twitter.com/9Y5eN4Bh5y
— WTO (@wto) March 1, 2021
What you should know
- On February 15th 2021, Nigeria’s Dr. Ngozi Okonjo-Iweala was officially appointed as the Director-General of the World Trade Organisation.
- The United States and former Permanent Secretary Federal Ministry of Foreign Affairs, Ambassador Joe Keshi pointed out that the only way Nigeria as a country can benefit from her appointment is by being productive.
- “She will not help you unless you are productive, she will not help you except you have something to sell, because her role as a DG of the World Trade Organization, the World Trade Organization is an organization that regulates global trade and except you have something to sell and you know put into the world market her role is to ensure that you get a fair deal and that you are not cheated in the whole process,” he said.
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