It's a pretty cool experience and I hope Apple Card sets a new baseline.
Confirming where a purchase was made can help with budgeting and detecting fraud.
I've since switched banks, but I still haven't found a bank that had as good of an experience as them. Hearing about the Apple cards digital experience is actually enticing, because both of the credit cards I use are slow as hell, or make using rewards difficult in some way (one card makes me 'activate' the reward tiers for the 3 month period, the other takes you out of the app to an external page to use any rewards).
Why on earth would you think Apple can't see where your purchases were?
> Even Apple doesn’t know what you bought. Or where. Or how much you paid.
> At Apple, we firmly believe in your right to privacy. That’s why we created a unique architecture for Apple Card that generates things like your transaction history and spending summaries right in the Wallet app on your iPhone. Of course, Goldman Sachs will use your data to operate Apple Card. But they will never share or sell your data to third parties for marketing or advertising.
Payment does not need modernizing. The more 'deals' and 'convenience' they introduce, the more complicated paying becomes overall. This complexity makes it for you, the consumer, more difficult to determine the actual value of the thing is you are purchasing, makes it more difficult to figure out whether you want to support the business processes that go with it.
Do the points and rewards for this transaction manipulate you in an unacceptable way into buying other things later on? Does Apple really care that much about your privacy, or will they use this information in a way that you don't like? Do you think that them having almost absolute say over what happens on your phone is a good thing or a bad thing and will this purchase endorse that or not?
You can have all kinds of answers to those questions, but do you really want to go through all of them when you buy an album on iTunes? Just keep it simple. You have this good/service and I want it. I give you money, you give me the thing. End of story.