Rumor has it that Goldman Sachs intends to exit the Apple Card business or be taken over by American Express

2023-07-02 14:01:26

Apple launched the Apple Card a few years ago and cooperated with Goldman Sachs to provide credit card services. However, after a few years, it was reported that Goldman Sachs intends to withdraw from the cooperation and sell the business to American Express.

The launch of Apple Card in 2019 was seen as Apple’s attempt to further explore financial products, and Goldman Sachs, which cooperated with Apple, also rarely entered the consumer financial market, so it attracted much attention at the time. It is available in the United States, but the response is good, and the savings account function has been added recently.

According to the Wall Street Journal, Goldman Sachs recently intends to withdraw from its cooperation with Apple and focus on its own business and financial market. It is rumored that their business in this area has not achieved the expected profits, so they hope to get rid of it. According to reports, American Express is currently discussing with Goldman Sachs, and has the opportunity to take over Apple Card. If it happens, it may become more likely that Apple Card will expand to the world.

source:WSJ