Goldman Sachs partnered with Apple four years back to launch the Apple Card. For the unversed Apple Card is a credit card that Apple Inc. created in partnership with Goldman Sachs. It is meant to be used with Apple Pay on an Apple device such as an iPhone, iPad, Apple Watch, or Mac.
Apple is also in discussion to launch the Apple Card in India. We earlier reported this to you, which you can check here.
Recent reports are suggestive of the view that Goldman Sachs may be planning to walk out of the deal with Apple.
Recently, as part of the high-profile deal with Apple, a savings account was included for Apple Card holders.
A report by Wall Street Journal states that the investment banking firm is apparently in talks to offload the partnership to American Express.
However, nothing has been confirmed yet and it is unclear if Apple would support the move.
Earlier this year, David Solomon, CEO of Goldman expressed that they were considering strategic alternatives in order to facilitate their consumer arm. Thus, it won’t be a surprise if the firm offloads the partnership to American Express.
Apart from the deal with Apple, Goldman has a credit card partnership with General Motors as well as GreenSky. As of now, neither Apple nor Goldman has responded to any news-media reports.
