US EditionJPMorgan nears deal to take over Apple’s credit card program, WSJ reports
UNITED STATES, JUL 29 – Apple is choosing JPMorgan Chase to replace Goldman Sachs as Apple Card issuer amid Goldman’s financial losses and strategic shift in consumer finance, sources say.
- On Tuesday, the Wall Street Journal reported JPMorgan Chase is in advanced talks to replace Goldman Sachs as Apple’s card issuer.
- Amid mounting losses, Goldman Sachs seeks to exit its agreement with Apple as negotiations between Apple and JPMorgan Chase, which began early last year, have accelerated in recent months.
- According to insiders, Apple has told JPMorgan it is its preferred successor to Goldman Sachs, promising access to its vast customer base for cross-selling.
- Market reaction saw JPMorgan shares slip to $297.97 Tuesday, near its 52-week high of $301.29 and low of $190.90.
- Beyond JPMorgan, Apple has held talks with Synchrony, American Express and Capital One about the Apple Card partnership, but challenges remain, the Wall Street Journal reported.
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JPMorgan nears deal to take over Apple’s credit card program, WSJ reports
JPMorgan Chase is in advanced talks to take over Apple’s credit card program from Goldman Sachs , the Wall Street Journal reported on Tuesday, citing people familiar with the matter.Read MoreThe post JPMorgan nears deal to take over Apple’s credit card program, WSJ reports first appeared on The Who Dat Daily.
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Coverage Details
Total News Sources20
Leaning Left4Leaning Right0Center8Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
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