BY JAMES SCOTT/ JULY 4, 2023

The Partnership Between Goldman Sachs And Apple May be Terminated, And American Express May Step In To Take Its Place

A recent article published in The Wall Street Journal claims that Goldman Sachs does not intend to maintain its cooperation with Apple in the foreseeable future.

Goldman Sachs And Apple

Apple has partnered with Goldman Sachs to launch the Apple Card credit card in the United States, Apple Pay Later, and an Apple Savings account that Apple Card customers may utilize.

Goldman Sachs And Apple

The financial services provider has shown a desire to scale back its consumer-facing operations and is currently in discussion with American Express (or Amex) over the possibility of a takeover.

Goldman Sachs And Apple

If an agreement is reached, Goldman Sachs will sell its credit card partnership businesses to another company. These businesses include the Apple Card and other credit cards similar to the card that Goldman Sachs provides for General Motors.

Goldman Sachs And Apple

According to the sources interviewed for this article by The Wall Street Journal, American Express and Goldman Sachs have not yet agreed, and a transaction between the two companies is not "imminent or assured."

Goldman Sachs And Apple

Goldman Sachs has just announced that it will continue cooperating with Apple through the decade's end. Apple would have to consent to the transfer, and the company is aware of Goldman Sachs's discussions with Amex.

Goldman Sachs And Apple

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