A total of three financial institutions are apparently set to replace Goldman Sachs with Apple Card. However, the related negotiations are protracted. As the Reuters news agency reports, citing informed circles, in addition to JPMorgan Chase two other candidates also leak.
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British and American interested parties
Major British institution Barclays, also known as a credit card provider in Germany, as well as American company Synchrony Financial, which specializes in payment systems and credit cards, are also interested. Reuters sources claim that negotiations between Apple and Barclays have been going on for several months and may take several months to conclude. Synchrony, on the other hand, has only recently started talking to Apple.
Interestingly, the iPhone maker currently has a company pay later service However, what has been introduced requires a Mastercard from Synchrony. In the future, the “Pay Later” option can be selected immediately through Apple Pay if you have the correct credit card. You can pay for purchases for a set monthly amount; Conditions remained unclear in the beginning.
Huawei FreeBuds Pro 4 in testGoldman Sachs wants out
The Apple Card, introduced in 2019, is a credit card with comparatively customer-friendly terms. As of now it exists only in the United States. Apple had started with its partner Goldman Sachs, but they had been trying to get out of this contract for a long time. Reason: The bank is unable to earn money from Apple Card. It is said that the related divisions cause losses of more than half a billion US dollars per year.
Of the parties interested in taking over the business, Barclays is of particular interest to European clients. The bank is also quite active in the EU and so could eventually help Apple introduce the Apple Card outside the United States. Goldman Sachs originally planned to internationalize its private banking business, but largely abandoned the idea.
(B.Sc.)
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