Apple Will Reportedly Launch a Credit Card With Goldman Sachs

Apple is preparing to release a credit card in partnership with investment bank Goldman Sachs, according to a new report from The Wall Street Journal. The new credit card — which marks the end of Apple’s credit card partnership with Barclays — would use the Apple Pay branding, and it’s expected to be released early next year. Goldman Sachs will also offer in-store loans to Apple customers, according to the report.

The move comes just months after Goldman Sachs acquired the team behind Final, a credit card startup, a signal that it was ready to become a serious player in the credit card industry. Goldman Sachs has had a partnership with American Express and its Platinum card for years, offering a variation of the premium credit card to its account holders, but this will be its first foray into consumer credit cards that will expand beyond its own customer base.

Source: theverge.com