Apple To Launch Their Own Credit Card
In a new report out this morning from The Wall Street Journal appears Apple could be working with Goldman Sachs to develop their very own credit card which would have deep integration with the next version of iOS.
The new joint credit card will reportedly feature deep integration with an updated version of the Wallet App on iOS. This would allow users of the new credit card to manage their balances, set spending goals and maybe in the future apply for personal loans and access wealth management services.
This would be an interesting addition inside the iOS app, but one that may be welcome for many. The new service would also help Goldman Sachs and Apple generate higher profits. This is especially important for Apple as the company has started to see declining sales revenue from the iPhone. This new credit card would make more profit than Apples current Apple Pay system.
Rumours surrounding this new credit card started popping up last May, and its reported that Goldman Sachs has invested around $200 Million in this project.
If all goes well for the two companies, we could see this new credit card launch in the USA as early as this spring.
Source: Wall Street Journal