Visa Allegedly Makes a Bid to Unseat Mastercard as Apple Card's Partner
- Visa reportedly offered Apple $100 million to become the Apple Card's payment network, challenging Mastercard's current role.
- Goldman Sachs wants to exit consumer lending, prompting Apple to seek a new card issuer and network.
- Apple Card, introduced in 2019, has $20 billion in customer balances, making it a valuable co-branded deal.
- Visa's $100 million offer is usually reserved for the largest card programs, as reported by the Wall Street Journal.
- American Express, Chase, Barclays, and Synchrony Financial are also competing to partner with Apple for the card.
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Visa Offers $100 Million To Secure Apple Card Network In A Bid To Outdo Mastercard: Report - Apple (NASDAQ:AAPL), American Express (NYSE:AXP)
Visa Inc. (NYSE: V) has reportedly proposed a $100 million payment to Apple Inc. (NASDAQ: AAPL) to secure the Apple card network. This move comes amid fierce competition among the country's leading payment networks.
·New York, United States
Read Full ArticleMastercard may be in for a fight to stay Apple Card network provider
There's been a quiet battle between banks to be the next Apple Card issuer as Goldman Sachs moves on, but another battle is brewing between networks to take over from Mastercard.Apple Card could go with Visa for payment networkApple is set to move Apple Card from Goldman Sachs at some point soon, but Apple could switch payment networks in the process. Goldman Sachs previously suggested it wanted to rid itself of Apple Card in 12 to 15 months as …
Coverage Details
Total News Sources27
Leaning Left1Leaning Right0Center7Last UpdatedBias Distribution88% Center
Bias Distribution
- 88% of the sources are Center
88% Center
13%
C 88%
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