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iOS

Apple sides with Goldman Sachs for new credit card, leaving behind Barclays

By Jules Wang May 10, 2018, 7:02 pm

A couple weeks ago, we reported that Apple had stopped supporting alternative credit sources for online purchases. One of them was PayPal credit. The other was Barclays.

Apple has, for the past few years, collaborated with Barclays to offer a Barclaycard Visa card with Apple Rewards with big points and extended financing terms. But this relationship may have come to a straining point — Barclays was, after all, the last major UK bank of the Big Four to offer its partnership on Apple Pay.

The Wall Street Journal reports that Goldman Sachs will be a new partner with Apple to offer an rewards-enhanced credit card. This bank recently acquired financial tech startup Final and could issue its first credit card. It could also cut off its reliance on American Express, which has provided Premium cards to Goldman customers.

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