Apple’s Card partnership could move from Goldman Sachs to Amex

Goldman Sachs is considering exiting its partnership with Apple, 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 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. Reuters