Visa offered Apple about $ 100 million to take over the partnership of the technology giant with the Mastercard credit card, the Wall Street Journal said on Tuesday, citing sources familiar with the subject.
Visa has made a bold effort to ensure Apple Card, offering an advanced payment usually reserved for the largest card programs, the WSJ said.
Visa did not comply with Reuters’s request for comment.
American Express is also trying to break Mastercard to win the Apple card. Amex is trying to become the card station, the report said, citing the sources.
Goldman Sachs and Apple, who launched their credit card partnership in 2019 with Mastercard as a payment processor, closed the alliance, according to a November 2023 report.
Several financial companies are competing to replace Goldman as a credit card partner.
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Reuters reported in January that Apple was in negotiations with Barclays and Synchrony Financial to become the technology giant’s credit card partner.
JPMorgan Chase has also been in conversations with Apple about the business since last year, as Reuters said earlier.
Goldman has entered the consumer sector for almost a decade, with the objective of expanding their revenue besides its traditional negotiation pillars and investment bank.
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At the end of 2022, Wall Street’s power decided to reduce his retail ambition after booking billions of dollars to cover possible losses in the business.
