2023-07-04 02:30:36
Apparently Apple customers are not that beneficial to this bank!
Goldman Sachs to review its deal with Apple
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For now there is nothing confirmed, but some news regarding possible changes to the Apple Card is already on the table. According to a new report published in The Wall Street Journal, The bank Goldman Sachs wants to end its association with Applewhich includes the use of the Apple Card credit card in the United States, Apple Pay Later and the Apple Savings account that Apple Card users are eligible for.
The investment banking giant wants to reduce his consumer business since it has been unsuccessful, as admitted by its top executive, David Solomon, during a meeting with shareholders held in February of this year at the bank’s headquarters in New York, published in Forbes magazine. In short, the retail banking business with loans, credit cards and services to individual clients has not been good for Goldman Sachs and so far they accumulate losses.
How does this affect Apple?
Well, although the agreement between Goldman Sachs and Apple has not yet been broken, The Cupertino company would at no time be left unprotected, much less its users. What is heard so far is that heThe banking company is in talks with American Express (Amex) so that it absorbs its credit card associations, which would include the Apple Card and others such as the one offered by General Motors.
Despite the dissemination of this information, American Express has not yet entered into an agreement with Goldman Sachsso it is not known with certainty if this new relationship will be born in the future or not.
In any case, Goldman Sachs recently extended its association with Apple until the end of the decade and the company with the bitten apple is aware of the conversations that the bank is holding with Amex. If the agreement is confirmed, Apple would have to accept the bank transfer and also evaluate if the transfer includes the same benefits for users or if there will be some changes, improvements or advantages that are more attractive.
Exclusive use in the United States
Let’s remember that Apple Card, as the default for Apple Pay transactions, currently only works in the United States And although they have wanted to launch it in other countries, because it may have problems with the integration of promotions and regulations, this plan has not materialized.
However, those of the Cupertino company continue to carry out the studies required to overcome the obstacles and make this request made by other nations a reality.
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