Apple Ends Credit Card Partnership with Goldman Sachs as Tech Giant Refocuses Financial Strategy ‼️

In a significant shift, Apple (AAPL.O) is reportedly severing ties with its credit card collaboration with Goldman Sachs Group (GS.N), according to sources cited by the Wall Street Journal on Tuesday. The tech giant has allegedly submitted a proposal to Goldman Sachs to conclude the partnership within the next 12 to 15 months, encompassing the entirety of their consumer alliance, including the virtual credit card and the savings account introduced in the past year. While Apple emphasized its commitment to delivering an exceptional financial experience for customers, Goldman Sachs declined to comment on the reported exit. The termination comes despite the partnership being extended just last year through 2029 and follows Apple’s recent foray into the “buy now, pay later” sector in the United States earlier this year. Apple remains dedicated to innovation, highlighting the success of its Apple Card and ongoing commitment to providing top-notch tools and services for consumers.