Apple Goldman Sachs Card Partnership Termination 2026: Seeking New Banking Alliance
Apple and Goldman Sachs will end their card partnership by 2026. Explore the impact on Apple Card users and why JPMorgan Chase might be the next partner.
The $10 billion fintech marriage of the decade is officially heading for divorce. Apple and Goldman Sachs have agreed to terminate their high-profile credit card and savings partnership by 2026.
Apple Goldman Sachs Card Partnership Termination 2026: Behind the Split
According to reports from the Wall Street Journal, the relationship soured as Goldman Sachs faced mounting losses. The bank's consumer division reportedly bled over $3 billion, largely due to the Apple Card's customer-friendly features like no late fees, which significantly squeezed the lender's profit margins.
JPMorgan Chase Emerges as Frontrunner
As Goldman exits, JPMorgan Chase is reportedly in talks to take over the program. With 17 million cardholders, the Apple Card portfolio represents a massive $17 billion in outstanding loan balances. However, the deal's success hinges on whether Apple is willing to compromise on its strict terms to satisfy a more traditional banking partner.
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