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WSJ reports JPMorgan Chase in advanced talks to take over Apple’s credit card program from Goldman Sachs; the deal to entrench its position in retail banking

July 30, 2025 //  by Finnovate

JPMorgan Chase is in advanced talks to take over Apple’s credit card program from Goldman Sachs. Talks between the largest U.S. bank and the tech giant began last year, as Goldman sought to unwind a partnership that had once been a cornerstone of its consumer banking strategy. The deal would further entrench JPMorgan in the credit card business and add to a string of victories for CEO Jamie Dimon, who has built the bank into a dominant force across retail banking and Wall Street businesses. The bank is among the top credit card issuers in the United States, and competes closely with rivals such as American Express and Capital One. Launched in 2019 with Goldman, the Apple card offered perks such as no fees and cashback, but the bank’s struggles in consumer banking prompted a rethink of the partnership. Since then, Goldman has pivoted to its traditional mainstays of investment banking and trading.

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Category: Apple, Companies and Organizations

Previous Post: « Embedded payments are seeing rising adoption in the parking sector through AI-recognition tech that lets customers just drive in and scan a QR code to enter their credit card information the first time they park, with automatic vehicle identification and charges applied on subsequent trips

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