According to the Wall Street Journal, Goldman Sachs is reportedly considering ending its partnership with Apple. This comes after the two companies collaborated on the introduction of a virtual credit card in 2019. Goldman Sachs is now in discussions with American Express to potentially take over the Apple credit card and other ventures with the tech giant. It’s worth noting that both Goldman Sachs and Apple have already initiated the rollout of their virtual credit card. In a separate development, Apple recently introduced its “buy now, pay later” service in the US, facilitated through the Mastercard Installments program, where Goldman Sachs acts as the issuer of the Mastercard payment credential. The Apple credit card is unique in that it is made of titanium and has no visible number. According to Apple’s website, the card currently offers 3% daily cash back for spending or saving and also provides the option for interest-free monthly installments on Apple device purchases. Reuters reached out to American Express for comment, but there has been no immediate response. Both Apple and Goldman Sachs have declined to provide comments as well.
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