Apple’s gone and announced its entry into banking with the Apple Card. Apple Card is a digital credit card — one that works anywhere in the world where Apple Pay functions. Which means that it doesn’t work here. Yet.

So it’s a credit card. Big deal, right? A credit card is just a credit card, even if it lives on an Apple device. Right? Nope. Apple’s gone for some wide-ranging privacy features and they’ve also got more than a few nifty ideas for people who are fond of the company’s typical style.

Keeping track

First off, Apple’s system tracks transactions and translates them into entries that make more sense than a series of merchant numbers. If you buy something somewhere, the app will show which actual company you bought the item from. Not just an arcane series of letters and digits.

The app bears a resemblance to local offering 22seven, and tracks spending over time. This tracking is split into categories as well, so you know if you’re spending far, far too much on cappuccinos.

Bonus features, daily

There’s a feature called Daily Cash, which is a cash-back/rewards scheme that gives users 2% of every Apple Pay transaction back as cash. Buy something from Apple and you’re getting 3% back. This total is tracked in Apple Pay’s digital wallet and users can use that money to pay back an Apple Card balance, transfer it to other users, or spend it on goods and services. In other words, anything you can do with real cash.

In addition, there are a heap of financial health functions on offer, and Apple Card is also set to deliver far lower fees than traditional banking institutions. The company talked up its security for this as well, with purchase data remaining on the Apple device itself. Even Goldman Sachs, the company underwriting Apple’s initiative, won’t be able to see what you’ve bought.

Oh, yeah, and if you’re really fond of an actual credit card (or travelling somewhere that Apple Pay isn’t supported like, umm, South Africa), Apple’s offering users a titanium credit card that doesn’t have any info on it beside’s the user’s name — laser-etched, of course.

Will we eventually see Apple Pay and Apple Card in South Africa? We’d be holding thumbs if we didn’t need them to hit the spacebar… so, yeah, don’t go holding your breath, either.