Last week it was announced that Apple and Goldman Sachs have joined forces to issue a credit card that pairs up with your iPhone.
The card links with Apples wallet app where users can track their spending, manage balances and get rewards.
This deal makes sense. Apple is growing its services business by trying to tap their huge user base, while Goldman is trying to grow its retail banking unit, because investment banking can be so lumpy. And let's be honest, the brands gel nicely together.
The only negative for me is that they are using Mastercard's payment network. We are big Visa fans here at Vestact!
Her is the article from Reuters.