As the Apple-Goldman Sachs deal nears its end, leading financial companies are trying to grab the lucrative opportunity.
Financial services giants Visa and American Express (Amex) are trying to grab a lucrative opportunity and become the new home for Apple Card. WSJ reports that Visa wants to pay about $100 million upfront to be the new payment network for Apple’s credit card.
Turning a few pages into history, Apple’s home-baked credit card was launched in 2019 at a special event alongside digital services such as Apple TV+, Apple News+, and Apple Arcade. The card was backed by Goldman Sachs, and Mastercard was used as its payment network.
Apple and Goldman Sachs are working to dissolve their partnership as the American bank wants to exit the personal banking sector.
