Apple and Goldman Sachs are teaming up to launch a new consumer credit card. The move, expected to take place later this spring or early summer is their attempt to bolster waning sales in their core products which are iPhone sales and securities-trading, respectively. Here's what you need to know.
The move, expected to take place later this spring or early summer is their attempt to bolster waning sales in their core products which are iPhone sales and securities-trading, respectively.
Followers of Apple know that Apple already has a credit card partnership in place with Barclays plc, but this partnership will replace it. The new partnership will also differ in several ways. For one, this is Goldman Sachs first foray into the consumer credit card business. The deal will also be structured differently because Goldman Sachs will pay Apple afor every consumer who is issued a card, which is a common practice in the industry.
Goldman Sachs launched their consumer banking brand Marcus in 2016 and currently has banking and consumer loan offerings. This will bolster their consumer brand, but they are playing catch-up with consumer banking juggernauts like J.P. Morgan Chase and Bank of America. Marcus is most well known for its, and consumers are left wondering whether the new credit card will offer one of the lowest interest rates to remain in line with their customer friendly approach.
If the card is to launch in a traditional physical format, there’s no guarantee that it will accelerate the adoption of Apple Pay, unless a substantial cash-back component or other incentive to use the service is included. If the card launches as a digital-only option, American consumers who are relatively more reluctant to adopt digital payment platforms may not race to sign up for it.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Apple Just Released New Details About The Apple Card With Goldman SachsHere is what we learned about Apple Card today—and what you need to know about the most innovative credit card product on the market:
और पढो »
Apple Just Released New Details About The Apple Card With Goldman SachsApple announced new details about their credit card with Goldman Sachs called the Apple Card. Here are the latest details.
और पढो »
Factbox: Spielberg, Oprah to make shows for Apple's new streaming serviceApple Inc unveiled an all new Apple TV app and a streaming service called Apple ...
और पढो »
Apple TV+ joins crowded market for streaming optionsApple Inc unveiled its Apple TV+ original content streaming service and Apple TV...
और पढो »
Goldman Sachs CEO says Apple Card 'completely changes the credit card experience'The Apple product is meant to be simple and transparent, and that ethos meshes with the stated principles of Goldman's consumer finance division.
और पढो »
Apple partners with Goldman to add a credit card to WalletApple Inc said on Monday it will launch a credit card with Goldman Sachs Group I...
और पढो »
Apple and Goldman Sachs launch a credit card⚡️Apple and Goldman Sachs are launching a new credit card. Some analysts were underwhelmed by the card's rewards, but say the iPhone maker's broad consumer reach could make it a major player $AAPL $GS annairrera
और पढो »
Apple to launch a new credit card with Goldman. Are the perks worth it?Apple Inc said on Monday it will launch a credit card with Goldman Sachs Group I...
और पढो »
It's 'show time' for Apple: News, video streaming and credit card with Goldman SachsFinally, the company gives a look into its streaming plan.
और पढो »
Apple just introduced a new rewards credit card that's sure to be a game-changer for iPhone usersThe new Apple Card, issued by Goldman Sachs, will offer 3% cash back on purchases made with Apple and 2% cash back on Apple Pay transactions.
और पढो »