Apple may soon change the banking partner behind it Apple Card. According to a new report from Reutersthe Cupertino company would be in negotiations with Barclays e Synchrony Financial to replace Goldman Sachsthe current partner.
Goldman Sachs has decided to reduce its presence in the consumer credit sector due to the huge losses accumulated over the last 18 months. The bank has reported billions in losses related to its credit card business, as well as abandoning other ventures such as personal loans offered through the Marcus brand.
Recently, Goldman also ended the partnership with General Motorshanding over management of the GM card to Synchrony Financial. Now it seems that the collaboration with Apple could have the same fate. While the deal between Apple and Goldman Sachs runs through 2030, Goldman CEO David Solomon recently said it’s possible the partnership could end before that date.
In addition to Barclays and Synchrony Financial, Apple has reportedly started talks with other lenders, including JP Morgan Chase e Capital Oneto evaluate who could become the new Apple Card partner.
Of the options on the table, Barclays seems like an interesting choice given that it already works with Apple in the UK, offering financing solutions for device purchases. Synchrony Financialon the other hand, has long experience in managing similar partnerships, as demonstrated by the agreement with GM.
Launched in 2019, the Apple Card is not just a means of payment, but represents a fundamental piece in the Apple ecosystem, even if it has not yet arrived in many countries. Thanks to the integration with Apple Pay and the Wallet app, offers a seamless experience and exclusive benefits for Apple customers, including daily cashback and simplified expense management.
Despite Goldman Sachs’ financial difficulties, the Apple Card remains a popular product among consumers, especially in the United States. However, the success of the product will depend on Apple’s ability to maintain competitive and attractive advantages even with a possible new partner.
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Source: www.iphoneitalia.com
