Apple Plans New Credit Card with Goldman Sachs

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Apple and Goldman Sachs make common cause. The financial company advises the iPhone maker for a while, has also issued bonds Apple. Now, however, the partnership is set to break new ground, as the WSJ reports.

Apple plans its own “Apple Pay” credit card

Persons familiar with the plans chatted against the Wall Street Journal states that Apple and Goldman Sachs want to launch their own credit card. It is to replace (in the USA) the previous customer credit card, which the iPhone manufacturer currently still in co-operation with Barclays releases and which is also compatible with Apple Pay. Already in the beginning of 2019 it could happen.

For the Apple, the bottom line would probably not change much compared to the solution with Barclays. However, the company could also better market its own financial services with an “Apple Pay” credit card.

Credits for Apple Customers

In addition, part of the partnership is to be customer loans for the purchase of Apple hardware , The conditions, however, are still worth evaluating at the present time.

There is already the possibility in the USA of exchanging small amounts of money between Apple customers. The service is called Apple Pay Cash. Behind the scenes, the group from Cupertino works together with the Green Dot Bank and Discover.

More information in summer? Not in Germany …

WWDC 2018 does not seem like the right place to present such information, in our view. Nevertheless, it is possible that we will also learn about it officially in the coming month.

Apple offers its current customer credit card only in the United States. However, it may be useful for the company to enter into collaborations with other banks and financial service providers abroad to accelerate the distribution of Apple Pay.

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