Goldman Sachs wants to be in the consumer finance business. Apple wants to integrate itself more into its customers’ wallets. To satisfy both desires, they are reportedly coming together to launch a new joint credit card as early as next year.
The new credit card is expected to carry the Apple Pay brand and may bring perks for its credit card customers, according to the Wall Street Journal on Thursday.
The credit card is only the latest news of Apple’s and Goldman Sach’s marriage. In February, Goldman Sachs was discussing with Apple introducing a financing plan to help customers buy iPhones and other Apple products at a lower interest rate than other credit cards.
Goldman Sachs, which has been a Wall Street powerhouse in investment banking for decades, has pivoted toward more consumer-based banking in the past two years.
