American bank Chase will become Apple’s new partner in the development of financial products. About this in your latest newsletter, Power On reported famous insider and Bloomberg reporter Mark Gurman.
Apple is currently in the process of cutting ties with Goldman Sachs. In 2019, the duo introduced the Apple Card product, which, as it turned out a few years later, turned out to be largely unprofitable for Goldman Sachs.
Apple’s new partner bank will most likely be Chase. As Gurman writes, this is due to several reasons. First, Apple stores $60 billion in Chase accounts, and second, Chase is one of the IT giant’s oldest partners in the Apple Pay service.
Chase also has the advantage of issuing MasterCard credit cards not only for American Express but also for Apple. Therefore, if the agreement is signed, the new Apple Card will work in all countries where MasterCard has a presence in the world.
Previously Apple started Buy discounted AirPods Pro 2 headphones.