Apple Teaming Up With Goldman Sachs for Apple Pay-Branded Credit Card
Apple is teaming up with investment bank Goldman Sachs for the launch of a new joint credit card that would be placed under the Apple Pay branding. The card could launch as soon as early 2019, according to The Wall Street Journal.
At the same time, Apple would end its partnership with Barclays, which offered customers an Apple rewards program and financing deals through a Barclaycard Apple Rewards Visa. For the new Goldman partnership, which will replace the Barclaycard, the bank is set to offer in-store loans to Apple customers buying iPhones and other Apple products.
Other specifics of the deal are still being decided upon, people familiar with the matter said, mainly including the terms and benefits of the planned credit card, "including the perks for customers." The Barclays/Apple card currently offers interest-free financing on Apple devices and points toward Apple gift cards.
Apple Inc. and Goldman Sachs Group Inc. are preparing to launch a new joint credit card, a move that would deepen the technology giant’s push into its customers’ wallets and mark the Wall Street firm’s first foray into plastic.
The planned card would carry the Apple Pay brand and could launch early next year, people familiar with the matter said.
Apple is believed to be adding more focus onto its growing services business, which Apple Pay is part of, and the Goldman Sachs partnership could be a way for the company to spread even more awareness of the digital wallet. In a report on Apple Pay adoption by Loup Ventures earlier this year, 16 percent of global iPhone owners were said to have activated Apple Pay. The researchers estimated widespread adoption for the service at 3-5 years from now, "given integration OS and iOS makes it the easiest to use digital wallet."
Apple first debuted Apple Pay in the fall of 2014, and although many retailers joined in support of the platform it has faced push back from companies like Target and Walmart as each try to develop their own digital wallet service. Last spring, Apple said it wasn't worried about the slow adoption of Apple Pay because it saw the mobile wallet as on track to soon become its customers' "primary payment system."
Popular Stories
In June 2022, Apple previewed the next generation of CarPlay, promising deeper integration with vehicle functions like A/C and FM radio, support for multiple displays across the dashboard, personalization options, and more.
Apple says the first vehicles with support for the next-generation CarPlay experience will be announced in late 2023, with committed automakers including Acura, Audi,...
AirTags may be a convenient way for tracking dogs that might get off leash or otherwise lost, but there are dangers associated with the practice, as outlined by a report from The Wall Street Journal.
At 1.26 inches in diameter, AirTags are able to fit easily on a dog's collar, but that size also makes the tracking devices small enough to swallow, at least for a medium to large-sized dog, and ...
Apple will launch a foldable iPad with a carbon fiber kickstand sometime next year, according to analyst Ming-Chi Kuo.
Subscribe to the MacRumors YouTube channel for more videos. In a series of tweets, Kuo said he expects an "all-new design foldable iPad" to be the next big product launch in the iPad lineup, with no other major iPad releases in the next nine to 12 months. The analyst said he...
Apple violated United States labor laws when it sent out an email warning employees about leaking confidential information about the company, the National Labor Relations Board (NLRB) said today in a ruling shared by Bloomberg.
Rules that Apple has established around leaks "tend to interfere with, restrain or coerce employees" from the exercise of their rights under the National Labor...
Following last week's hardware announcements, this week saw the actual release of several of the new products as well as operating system updates bringing new features and bug fixes across Apple's platforms.
This week also saw some fresh rumors about the iPhone 15 lineup and Apple's upcoming AR/VR headset, while we shared some tips to help you get the most of your macOS experience, so read...
Multiple rumors have suggested that the next-generation iPhone 15 models will adopt the Wi-Fi 6E standard that Apple has already introduced in the iPad Pro and MacBook Pro, and now a leaked document appears to confirm Apple's plans.
Sourced from researcher and Apple leaker Unknownz21 (@URedditor), the document features diagrams of the iPhone 15's antenna architecture. D8x refers to the...
Apple's next-generation iPhone 15 Pro and iPhone 15 Pro Max are expected to be announced in September as usual. Already, rumors suggest the devices will have at least eight exclusive features not available on the standard iPhone 15 and iPhone 15 Plus.
An overview of the eight features rumored to be exclusive to iPhone 15 Pro models:A17 chip: iPhone 15 Pro models will be equipped with an A17...
Top Rated Comments