Apple will end its partnership with Goldman Sach

Image Source : Google 30/11/2023

Apple is ending its credit card and savings account partnership with Goldman Sachs.

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Apple plans to end its credit-card and savings account partnerships within the next 12 to 15 months.

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This could also mean that Apple has found another partner.

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Even if that's not the case, Apple will need to find a new financial partner for high-yield savings accounts.

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If you are an Apple user then you would know that Apple offers both its credit cards and savings accounts through the Wallet app on iPhones.

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When Apple first launched Apple Card in 2019, Goldman Sachs CEO David Solomon was also present.

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Goldman Sachs CEO David Solomon had scaled back on his previous consumer banking ambitions due to rising costs.

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Goldman Sachs has also faced scrutiny from regulators over how Goldman handled refunds and billing errors and alleged gender discrimination when setting credit limits.

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Earlier this year, Goldman Sachs had said it would “consider strategic alternatives” for its consumer banking business.

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