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Apple will not allow the purchase of cryptocurrencies

FILE PHOTO: The Apple logo will appear on the stage, before a product unveiling event at Apple headquarters in Cupertino, california October 4, 2011. REUTERS/Robert Galbraith/File Photo

(Reuters) – Apple Inc’s (AAPL.(O) the credit card will be launched with the support of the Goldman Sachs Group Inc’s (GS.(N) it will not allow the purchase of cryptocurrencies, with the card in accordance with a customer contract, are posted to the Goldman’s web site on Friday.

The Apple is a Map of the customer’s agreement, said the card could not be used for the purchase of the advance payments in cash or cash equivalents, which were cryptocurrencies, casino gaming chips, race track wagers or lottery tickets. Goldman declined to comment and Apple did not immediately respond to request for comment.

The Apple Map is a part of a larger effort on the part of Apple, and to derive more revenue from services, after many years of strong faith in the iPhone’s sales, which declined by 12% in the last quarter of the year.

For the Goldman of the Apple partnership, is part of the old bank’s effort to build a consumer-focused company.

Apple, Goldman are not the only a ban on the purchase of cryptocurrency, such as Bitcoin, credit cards. The big American and British banks, Lloyds Banking Group Plc (LLOY.(L) and Virgin Money is now a VM.L is prohibited from any such purchase of last year, following in the footsteps of the AMERICAN banking giant, JP Morgan Chase & Co (JPM.N) and Citigroup (C. N). The banks were concerned that the volatility in prices could leave consumers saddled with debt that they will not be able to pay you back.

Report by Stephen Nellis; Editing by Will Dunham

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