There’s been a quiet battle between banks to be the next Apple Card issuer as Goldman Sachs moves on, but another battle is brewing between networks to take over from Mastercard.
Apple Card could go with Visa for payment network
Apple Card could go with Visa for payment network
Apple is set to move Apple Card from Goldman Sachs at some point soon, but Apple could switch payment networks in the process. Goldman Sachs previously suggested it wanted to rid itself of Apple Card in 12 to 15 months as of November 2023 — so the move is past due.
Before the card issuer changes, however, Apple may choose to sign a new contract with a different payment network. The current network is Mastercard, but according to a report from The Wall Street Journal, Visa and American Express are fighting for the position.