Visa and American Express Vying to Win Apple Card Deal in 'Fierce' Fight
Visa wants to pay Apple approximately $100 million to be the new payment network for the Apple Card, reports The Wall Street Journal. As of right now, the Apple Card is on the Mastercard payment network, but that is set to change because Apple is ending its partnership with Goldman Sachs.
Both American Express and Visa are vying to replace Mastercard as Apple's card services provider, while Mastercard is aiming to retain its position. Apple apparently plans to choose a new Apple Card network before it selects a partner to replace Goldman Sachs as the Apple Card's issuing bank, and competition is intense. Visa is offering Apple a $100 million upfront payment, while American Express is "in the mix" and Mastercard is "fiercely trying" to retain its role.
Apple and Goldman Sachs have been working to dissolve their partnership since 2023, with Goldman Sachs planning to exit the consumer banking market. JPMorgan Chase and Synchrony Financial are in talks with Apple to take over for Goldman Sachs, but American Express has also been aiming to become the issuer and network of the Apple Card. Apple needs both an issuing bank for the Apple Card and a payment network that facilitates transactions.
Goldman Sachs and Apple have worked together on the Apple Card since its 2019 launch, and have also teamed up for the high-yield Apple Savings account. Apple has not been happy with Goldman Sachs because of customer service issues caused by long wait times for disputed Apple Card transactions and savings account withdrawals.
The U.S. Consumer Financial Protection Bureau even launched an investigation into Goldman Sachs due to the customer complaints, which led to tension, so both companies are eager to end their relationship.
The Apple Card has over 12 million users in the United States, with approximately $20 billion in balances.
Popular Stories
Apple is about to drop iOS 26.1, the first major point release since iOS 26 was rolled out in September, and there are at least six notable changes and improvements to look forward to. We've rounded them up below.
Apple has already provided developers and public beta testers with the release candidate version of iOS 26.1, which means Apple will likely roll out the update to all compatible...
The upcoming iOS 26.1 update includes a small but helpful change for iPhones, and it could prevent you from running late to something important.
Specifically, when an alarm goes off in the Clock app, there is a new "slide to stop" control on the screen for turning off the alarm. On previous iOS 26 versions, there is simply a large "stop" button, which could be accidentally tapped.
The new ...
The upcoming iOS 26.1 update includes a handful of new features and changes for iPhones, including a toggle for changing the appearance of the Liquid Glass design, "slide to stop" for alarms in the Clock app, and more.
Below, we outline key details about iOS 26.1.
Release Date
Given that Apple has yet to seed an iOS 26.1 Release Candidate, which is typically the final beta version, the...
Apple has just given a strong indication that it will not be releasing any additional new Macs for the remainder of the year.
Apple's CFO Kevan Parekh dropped the hint during the company's earnings call on Thursday:On Mac, keep in mind, we expect to face a very difficult compare against the M4 MacBook Pro, Mac mini, and iMac launches in the year-ago quarter.Parekh essentially gave a heads up ...
Apple's iPhone development roadmap runs several years into the future and the company is continually working with suppliers on several successive iPhone models at the same time, which is why we often get rumored features months ahead of launch. The iPhone 18 series is no different, and we already have a good idea of what to expect for the iPhone 18 Pro and iPhone 18 Pro Max.
One thing worth...
Apple is designing an updated version of the Apple TV 4K, and rumors suggest that it could come out sometime in the next couple of months. We're not expecting a major overhaul with design changes, but even a simple chip upgrade will bring major improvements to Apple's set-top box.
Subscribe to the MacRumors YouTube channel for more videos.
We've rounded up all the latest Apple TV rumors.
...
Rumors are stoking excitement for the next-generation iPad mini that Apple is reportedly close to launching. So what should we expect from the successor to the iPad mini 7 that Apple released over a year ago? Read on to find out.
Processor and Performance
Apple is working on a next-generation version of the iPad mini (codename J510/J511) that features the A19 Pro chip, according to...
Apple's iPhone 18 Pro models could be available in new rich and warm color option, according to a known leaker.
The Weibo user known as "Instant Digital" today suggested that next-year's iPhone 18 Pro models will be available in at least one of the following color options: Coffee, purple, and burgundy.
The iPhone XR, iPhone 11, iPhone 12, iPhone 14, and iPhone 14 Pro were all available in ...
Apple today provided developers and public beta testers with the release candidate versions of upcoming iOS 26.1, iPadOS 26.1, macOS Tahoe 26.1, tvOS 26.1, watchOS 26.1, and visionOS 26.1 updates for testing purposes. The RCs betas come a week after Apple released the fourth betas.
The new betas can be downloaded from the Settings app on a compatible device by going to General > Software...
