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Apple reportedly in talks with Barclays, Synchrony to replace Goldman Sachs as Apple Card partner

MacDailyNews

Jan 16

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Apple is currently negotiating with Barclays to take over from Goldman Sachs as its Apple Card partner, Reuters reports citing “two sources close to the matter,” amid Goldman Sachs’ retreat from consumer finance initiatives. Synchrony Financial is also reportedly in talks with Apple regarding this potential partnership, as per the first source.

Reuters:
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Several financial firms are vying to replace Goldman, which launched the credit card with Apple in 2019, the sources said…
Negotiations between Apple and Barclays have been ongoing for several months, but it may still take months to strike a deal, the first source said.
JPMorgan Chase has also been in talks with Apple about the business since last year, Reuters reported previously.

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MacDailyNews Note: Goldman’s credit card agreement with Apple is set to continue until 2030, but according to Goldman CEO David Solomon, who spoke to analysts during Wednesday’s earnings call, the partnership might conclude before that date.

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