NEW YORK—After ongoing reports of issues between the two companies, Goldman Sachs is reportedly seeking to exit its card processing partnership with Apple, as well as its role in Apple’s new BNPL offering.
As CUToday.info has reported, Apple had selected Goldman Sachs for the backoffice processing for its Apple Card credit card in the United States, as well as for its newer buy now, pay later solution called Apple Pay Later, as well as for its high-yielding Apple Savings account.
“The banking company wants to cut back on its consumer business, and is now in talks with American Express about a potential takeover,” MacRumors reported.
According to the reported, a deal would see Goldman Sachs offloading its credit card partnerships to another company, which would include the Apple Card and other credit cards such as that it offers for General Motors, MacRumors added.
As CUToday.info has also reported, Goldman Sachs has seen considerable losses since its foray into retail banking under the Marcus brand.
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