Apple has developed a deep relationship with Goldman Sachs through Apple Card, but apparently, it’s an unhappy marriage. According to the Wall Street Journal, Goldman Sachs is in talks with American Express about transferring its Apple partnership. In January, Goldman Sachs revealed that it had lost over $1 billion on its Apple Card partnership since 2020. Despite being stuck in an unhappy relationship, Goldman Sachs recently expanded its relationship with Apple with the launch of the Apple Card Savings Account. Other card companies nickel and dime with things like late fees and foreign transaction fees, but Apple Card does not.

Source: Wall Street Journal July 01, 2023 17:40 UTC