Apple partners with one of the world's largest investment banks, Goldman Sachs.
According to The Wall Street Journal, Apple will soon begin testing its own credit card among its employees. In case of a successful beta test, the company will begin mass issuing credit cards this year. Apple continues to aggressively expand Apple Pay to new countries, but issuing physical cards could bring even more benefits.
Naturally, the Apple Pay card will integrate with the Apple Wallet app, so the user will have various tools to manage their finances. It is possible that the company will add “rings” from the Apple Health app to the wallet, only they will show your spending and send notifications if you have exceeded the limit.
Goldman Sachs, in turn, expects that the partnership with Apple will attract new customers for online banking Marcus. The company is reportedly spending $ 200 million on internal infrastructure for the card, from customer support call centers to internal payments. The privilege of the owner of a credit card from Apple is likely to be a cashback of about 2% on most purchases. And even more for the purchase of technology and payment for Apple services. Moreover, the Cupertino-based company plans to launch a news subscription and video streaming platform soon. The credit card will use the MasterCard payment network.