According to a new report from The Wall Street Journal, Apple is preparing to release a credit card in partnership with Goldman Sachs.
The card is expected to be released next year and would end the partnership Apple currently has with Barclays. The deal will reportedly see Goldman Sachs offering in-store loans to Apple customers.
The report comes only a few months after Goldman Sachs acquired credit card startup Final, which was a good signal that they wanted to become a serious player in the credit card industry. Goldman Sachs has long held a partnership with American Express for premium credit cards, however, this will be the first time the company ventures into consumer credit cards beyond its existing customer base.
The partnership would also be very beneficial for Apple, as the company can continue to push forward with the adoption of Apple Pay. It’s still unclear what kind of benefits the company will offer.