Latest Global Business News

Apple and Goldman Sachs teaming up for credit card

 
Apple and Goldman Sachs are joining hands to launch a new credit card.... which will have various benefits for iPhone users.
Seo Bo-bin has more.
 
U.S. tech giant Apple is teaming up with one of America's biggest banks Goldman Sachs to launch a new credit card this spring.
According to the Wall Street Journal on Thursday, the credit card will be linked with features such as Apple Pay and Apple Wallet so that customers can easily track their rewards and manage their accounts through their iPhone.
 
The card will use the MasterCard network and card users will be able to receive 2 percent cash back on many of their purchases and possibly receive other rewards for purchasing Apple products.
 
apple goldman sach teams up
 
As Apple's iPhone sales have been falling, the firm is looking to boost its revenue in other ways and expand growth in its service businesses. And as for Goldman Sachs, as it is looking to expand its consumer business, this could be the chance to bring in millions of Apple users as it diversifies away from its original corporate and Wall Street clients.
 
The new credit card will be first tested by Apple and Goldman Sachs employees and then will be officially launched to the public later this year.

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