Goldman Sachs could launch Apple Pay credit card

Goldman Sachs and Apple appear to be in talks for the financial company to launch a credit card under the name of Apple Pay.. We know the news through the prestigious Wall Street Journal. Instead, predictably this card will not be available until 2019 and the operation and the countries where it can be marketed are unknown.

Goldman Sachs is not a commercial bank and therefore, it would reach agreements with financial institutions, for its distribution among users. At the same time, there are no details on whether it will be a physical card or just a virtual one. 

This card will replace the product now sold by Barclays in the US.. Apple and Goldman Sachs are preparing the terms and conditions of the agreement and the information that the user who is interested in this means of payment will receive.

The current Barclays product offers interest-free financing on Apple products. Goldman Sachs already works with Apple in other financial areas, in fact, this is the second issue of the year in which Apple has Goldman Sachs as a Financial Partner. With this agreement, Goldman Sachs seeks to offer not only the card to consumers of Apple products, but also also that users have loans for the acquisition of products, both at the company and consumer level.

Apple Pay

Regarding the financial costs, which are usually high, the two parties involved have not provided any details. Yes indeed, the commissions that Apple receives for the use of these services would be added to the income figure for services that is growing in Apple's income statement in a skyrocketing way.

And it is not for less, because in the words of the president,

We had record revenue from the App Store from Apple Music, iCloud, Apple Pay, among others

Apple Pay will be one of the main sources of income in the future for AppleIn the presentation of results, it was reported that Apple had doubled the number of Apple Pay users and tripled the number of transactions in one year.


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