It’s not every day that two financial giants fight over a credit card deal with a $100 million bid on the table, but that’s exactly what’s happening with the Apple Card.
Visa has reportedly offered Apple a staggering $100 million to replace Mastercard as the payment network for the Apple Card.
Apple’s sleek credit card, launched in 2019 with Goldman Sachs and Mastercard, has grown into a major player, but with Goldman Sachs looking to exit after racking up billions in losses, Apple is now restructuring its card program. Visa wants in, Mastercard wants to stay, and American Express is lurking in the background, eyeing both issuer and network roles.
With major banks like JPMorgan Chase, Barclays, and Synchrony Financial in talks to replace Goldman, the Apple Card is in the middle of a corporate tug-of-war and the battle is far from over
One thing is sure; Apple holds and plays all the cards….
Source: TechBuild
