Goldman Sachs may exit partnership with Apple, Wall Street Journal reports

[1/2]The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly//File Photo/File Photo/File Photo Acquire Licensing Rights

June 30 (Reuters) – Goldman Sachs (GS.N) is considering exiting its partnership with Apple (AAPL.O), the Wall Street Journal reported on Friday.

The iPhone-maker and Goldman Sachs started rolling out a virtual credit card in 2019.

The bank is in talks with American Express (AXP.N) to take over its Apple credit card and other ventures with the tech giant, the report added, citing people familiar with the matter.

Apple, Goldman Sachs and American Express did not immediately respond to Reuters requests for comment.

Apple said earlier this year that it will partner with Goldman Sachs to offer high-yield savings to card customers as banks compete for customer dollars.

Reporting by Arshreet Singh; Editing by Shweta Agarwal

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Source: reuters.com