Apple, Goldman Sachs to pair credit cards with iPhones

Friday 22 February 2019 13:52 CET | News

Goldman Sachs has teamed up with Apple to issue credit cards paired with iPhones for streamlined money management.

According to Fintech Futures, the card, which will be linked with Apple’s Wallet app, will allow users to set spending goals, track rewards, and manage balances. The new cards will be rolled out to employees for testing in February and March 2019 and will be launched later in 2019.

For Apple, this represents a boost for its mobile payments and its music streaming. Allegedly, Goldman Sachs is also looking to increase its consumer loans.

The joint card will use Mastercard’s payment network and offers a cash back of about 2% on most purchases.

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Keywords: Apple, Goldman Sachs, partnership, credit cards, iPhones, launch, app, mobile payments
Countries: World