Apple plans to end partnership with Goldman Sachs in 12-15 months

Posted under: MSME
Date: 2023-11-30
Apple plans to end partnership with Goldman Sachs in 12-15 months

Apple is reportedly ending its partnership with global investment bank Goldman Sachs over its Apple Card. The iPhone maker has sent a proposal to Goldman Sachs, asking it to terminate their partnership within the next 12 to 15 months, according to The Wall Street Journal. “The exit would cover their entire consumer partnership, including the credit card the companies launched in 2019 and the savings account rolled out this year,” the report mentioned late on Tuesday. Goldman Sachs currently issues the Apple Card and powers the company’s savings accounts. However, earlier reports hinted that their partnership was not going too well, and Goldman Sachs reportedly explored offloading the Apple Card onto American Express. “The tech giant recently sent a proposal to Goldman to exit from the contract in the next roughly 12-to-15 months, according to people briefed on the matter,” the WSJ report mentioned. Apple or Goldman Sachs had yet to comment on the report.

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