Apple launches its own credit card

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The physical version of the card is made of titanium and does not have a card number or signature space on it.

Apple has announced that is is launching its own credit card, Apple Card.

There will be both an iPhone and physical version which will launch in the US in the summer, the firm said.

The iPhone version includes a 2% cashback incentive on each purchase, has no late fees, annual fees or international fees, said Apple Pay VP Jennifer Bailey.

It has been created with the help of Goldman Sachs and MasterCard.

News stand

The firm held an event in Cupertino, US to announce a number of new and enhanced services.

Chief Executive Tim Cook was clear from the start that the announcements would be about new services, not new devices.

It is a change of direction for the 42-year-old tech giant.

The firm also revealed a news service, Apple News+, which will include more than 300 magazine titles including Marie Claire, Vogue, New Yorker, Esquire, National Geographic and Rolling Stone.

The LA Times and the Wall Street Journal will also be part of the platform, the firm said.

It added that it will not track what users read or allow advertisers to do so.

Apple News+ will cost $9.99 (£7.50) per month and is available immediately in the US and Canada. It will come to Europe later in the year.

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Apple Arcade will offer

A new games platform, Apple Arcade, will offer over 100 exclusive games from the app store which will all be playable offline.

It will be rolled out across 150 countries in the autumn but no subscription prices were given.

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Apple launches its own credit card