Apple, Goldman test credit card: WSJ
Apple and Goldman Sachs are rolling out a joint credit card to employees for testing ahead of a planned spring release, The Wall Street Journal says. Citing anonymous sources, the paper reports that the card, using Mastercard’s payment network, lets customers access features on Apple’s Wallet app allowing them to set spending goals, track rewards and manage balances. The tech giant stands to gain a bigger slice of credit-card purchases through the card than it does through Apple Pay, the Journal says.
- Both Apple and Goldman seek new revenue streams as sales slow in their core businesses of securities trading and iPhone sales, respectively.
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Inevitably, they will seek to leverage their “cards on file” for seamless transactions, and will seek to offer co-branded payment instruments to assert their presence as a trusted provider in global commerce.