Apple and Goldman Sachs Working Together on Credit Card

Apple and Goldman Sachs Working Together on Credit Card

As The Wall Street Journal reports, Apple now takes a 0.15 percent cut of every Apple Pay transaction, but with its new Goldman Sachs credit card, it would take more than 0.3 percent.

Barclays offers cardholders three points for every dollar spent on Apple products, two points per dollar spent at restaurants and one point per dollar spent on all other purchases. With the new tie-up, Apple would end its partnership with Barclays, replacing it with Goldman Sachs as the creditor.

Apple has partnered with the investment bank and the Wall Street giant-Goldman Sachs. The new Apple-branded card will likely be tied to the company's mobile payment and online wallet service, Apple Pay.


Apple is a huge and iconic brand, and it would be a symbolic success for Goldman as it enters the consumer credit card market, industry experts said, but it is not a large co-brand partnership like American Express' partnership with Delta Air Lines, Citigroup's partnerships with Costco and American Airlines or JPMorgan Chase's partnerships with Marriott and United. If true, this would allow Apple Pay users to pay for products and services even when they don't have access to their smartphone. As per reports, a Goldman Sachs backed Apple Pay card holds the potential for Apple to try much deeper integration between its payments network and physical monetary transactions.

Free-to-use Clarity Money is a leading app that uses artificial intelligence to help people manage their finances with personalised, "actionable insights" such as saving money or finding better credit cards, according to Goldman Sachs. The move could increase brand recognition for Apple Pay.

The Wall Street Journal reported on the new partnership earlier on Thursday, saying a card could be released next year. The older card offered the Apple users reward program and financial deals through Barclaycard Apple Reward Visa.

Related Articles

  • Arsene Wenger: 'Something special brewing at Arsenal'

    Arsene Wenger: 'Something special brewing at Arsenal'

    Although he could soon be moving overseas as well, having said that he'd still like another job in management before retiring. The structures of the club, the way you can influence individual players' lives as well. "So it was special".
    Zinedine Zidane Remains Coy On Potential Neymar Bid

    Zinedine Zidane Remains Coy On Potential Neymar Bid

    Madrid, meanwhile, know that Neymar would be the ideal replacement for Cristiano Ronaldo , who turns 34 next season. What's worrying us is what is going on at the moment. "As you all know here, I'm always positive".
    Iran-aligned Houthis in Yemen fire missiles at Saudi capital

    Iran-aligned Houthis in Yemen fire missiles at Saudi capital

    The war has killed and injured over 600,000 civilians, according to the Yemeni Ministry of Human Rights. The Saudi Civil Defence will test a warning siren in Riyadh and other provinces on Thursday.
  • Now Students Can Create Custom VR Tours With Google Tour Creator

    Now Students Can Create Custom VR Tours With Google Tour Creator

    Tour Creator aims to make it easy to knit together 360-degree photos into a VR-ready clickable guide with notes and voiceovers. You can view the finished product with a VR viewer if you want, but the real difference here is that you don't need one.
    Oklahoma gov vetoes bill allowing adults to carry guns without a permit

    Oklahoma gov vetoes bill allowing adults to carry guns without a permit

    Senate Bill 1212, also referred to as the " Constitutional Carry " bill, was presented by Sen. However the Legislature overrode her veto and the invoice turned regulation anyway.

    Microsoft Working On New Smart Speaker

    But that will not keep Microsoft from thinking of making a smart speaker themselves instead of relying on hardware partners. Many people might have rejected the Harmon Kardon Invoke smart speaker just because it is powered by Cortana.
  • Real Madrid's Sergio Ramos Had An Absolute Nightmare Against Sevilla

    Real Madrid's Sergio Ramos Had An Absolute Nightmare Against Sevilla

    The game started off slowly, but Real Madrid looked to create a chance while Sevilla played long balls up to their front line. Real Madrid striker Borja Mayoral has emerged as the club's second most effective goalscorer this season.
    North Korea to dismantle nuclear site ahead of Trump-Kim summit

    North Korea to dismantle nuclear site ahead of Trump-Kim summit

    North Korea's leader Kim Jong Un told his South Korean counterpart last month that the site would be abandoned within this month. In another sign of improving relations, North Korea this week released three USA citizens who had been imprisoned in the country.
    De Lille can sue DA members who shared fake Auditor General Report

    De Lille can sue DA members who shared fake Auditor General Report

    In the matter of Ms De Lille seeking an interdict restoring her to the mayoralty, judgment was reserved. Instead, the letter was sent by federal council chairperson James Selfe, Mpofu said.
  • Rangers striker Jason Cummings looking to take down former club Hibernian

    Rangers striker Jason Cummings looking to take down former club Hibernian

    Cummings has started only five league games for the Glasgow giants, while making nine sub appearances - and scoring two goals - with Alfredo Morelos generally ahead of him in the pecking order.
    UFC 224 Embedded, Episode 1: Embarking On Road To Brazil

    UFC 224 Embedded, Episode 1: Embarking On Road To Brazil

    Women's bantamweight champion Amanda Nunes gets a massage at home, then packs alongside her girlfriend, strawweight Nina Ansaroff. Cooper was not pleased to find out about Dern's weight troubles and took to Twitter to air her frustrations.
    'PUBG' War Mode: Desert Knights Event Mode Revealed - Dates, Rules & Tips

    'PUBG' War Mode: Desert Knights Event Mode Revealed - Dates, Rules & Tips

    That downtime is expected to start at 7 PM PT / 10 PM ET on May 2 (3 AM BST / midday AET on May 3) and to last for four hours. Similarly, when nearby but out-of-sight players equip or unequip items, this process is handled in a more efficient manner.