Financial conglomerate Goldman Sachs has planned to withdraw from cooperation with Apple. It is reported by The Wall Street Journal (WSJ).
According to the sources of the newspaper, the leaders of one of the largest banks in the world were disappointed with the cooperation with the American corporation. Since 2019, Tim Cook’s company, together with Goldman Sachs, has been issuing a credit card integrated into the Apple ecosystem.
Insiders said that Goldman Sachs is not satisfied with the results of cooperation and is looking for a way out of the deal. It is reported that the conglomerate may transfer the unprofitable partnership to financial company American Express. However, it is not clear what Apple thinks about the failure of the card, whether the company will close the product and how they feel about a possible collaboration with American Express.
Journalists noted that in addition to Apple, Goldman Sachs issues cards jointly with General Motors Corporation and GreenSky credit company. Representatives for Goldman Sachs, Apple and American Express declined to comment.
The Apple Card credit card was launched in 2019. In August 2022, journalists from MacRumors stated that the product had failed because it had not been able to be brought to the global market in several years.
Source: Lenta
Mabel is a talented author and journalist with a passion for all things technology. As an experienced writer for the 247 News Agency, she has established a reputation for her in-depth reporting and expert analysis on the latest developments in the tech industry.
