Goldman Sachs Withdraws from Apple Card Partnership

Apple has a falling out with Goldman Sachs, with which it partnered for the “Apple Card”. Goldman Sachs, which lost huge amounts of money, wants to withdraw from the partnership. Apple asked for 12 to 15 months.

US-based technology giant Apple announced a few years ago Apple Card It started to serve consumers like a bank with its service. The project, implemented in partnership with Goldman Sachs, allows consumers to shop and even interest income It allowed them to get it. The latest news suggests that Apple may have to look for a new partner.

According to information obtained, Goldman Sachs and Apple ending the partnership took the decision. The reason why the giant bank gets such a reason is that it is losing money. In fact, this is not such a surprise because a few weeks ago, sources familiar with the subject said, similar claims They brought it up.

The cooperation between the parties will end within 12 to 15 months

According to information provided by sources familiar with the subject to news sources such as CNBC and The Wall Street Journal, the partnership between Apple and Goldman Sachs will be Within 12 to 15 months It will end. Apple will look for a new partner in this process. Of course, will someone else take over a job left by Goldman Sachs, one of the largest in the world? not sure. Apple seems to have some difficulty in this process.


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There are a few candidates though!

The names of several banks are mentioned among the allegations made regarding the issue between Apple and Goldman Sachs. One of them, American Express. Allegedly, Goldman Sachs wants to leave the Apple Card partnership to American Express. However, American Express is reportedly undecided for several reasons, including loss-making. US-based financial services company Synchrony FinancialThere are allegations that . also wants to become a partner in Apple Card.


Making a statement on the subject, an Apple spokesperson said, “Apple and Goldman Sachs are focused on providing our customers with an incredible experience to help them live healthier financial lives. The award-winning Apple Card has received great attention from consumers and we We will continue to innovate. We provide the best tools and services for consumers.” he used open-ended expressions.

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