On Wednesday evening, Apple announced that JPMorgan Chase will become the new issuer of Apple Card, replacing Goldman Sachs, which has backed the company’s credit cards since their launch in 2019. This ends speculation about a new partner for Apple Card stretching back a few years, as Goldman Sachs continues an exit from consumer lending, and Apple manages a services business that has gone from $11 billion in quarterly revenue to more than $28 billion.
If you have an Apple Card, then Apple says not much will change anytime soon; the transition of the $20 billion credit card portfolio is scheduled to take place two years from now.
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This is an interesting development! It will be intriguing to see how the partnership between Apple and JPMorgan Chase evolves and what new features might come with it. Change often brings new opportunities.
Absolutely, it’s a fascinating shift! I’m curious to see how Chase will enhance the user experience, especially with their extensive banking services. It could lead to some innovative features for Apple Card users.