Skip to main content

Market Overview

Is Apple Eyeing A New Partner For Apple Card Issuance? This Job Listing May Give A Clue

Share:
Is Apple Eyeing A New Partner For Apple Card Issuance? This Job Listing May Give A Clue

Apple Inc. (NASDAQ:AAPL) is reportedly on the lookout for a new partner to manage its Apple Card operations. This development comes amid an end to its partnership with Goldman Sachs.

According to a report by 9to5Mac, a job listing posted in August and removed in October suggested the tech giant is seeking a software engineer for Apple Processing LLC, a subsidiary that focuses on payment solutions. The job description provided some hints about Apple’s plans, mentioning in particular a collaboration with Brazilian fintech company Pismo.

Pismo, known for its modern, cloud-based banking and payment structure, was recently acquired by Visa. The job description’s mention of Pismo suggests that Apple could be considering the firm to issue and manage Apple Card processing, as its partnership with Goldman Sachs is reportedly on shaky ground.

See Also: ‘It’s Repulsive To Me’: AI Expert Timnit Gebru Says She’d Rather Go Back To Google That Fired Her Than Join OpenAI Board

The Wall Street Journal has reported that Goldman Sachs has considered offloading the Apple Card program to American Express. However, concerns about the program’s loss rates have been raised. Meanwhile, Synchrony Financial is also reportedly contemplating taking over the Apple Card business.

Despite rumors and reports, Apple has not publicly confirmed or denied any changes to its partnership with Goldman Sachs. The tech giant maintains its commitment to innovating and delivering the best tools and services for Apple Card customers.

Read Next: VIX At Pre-Pandemic Low: Is Wall Street’s Fear Gauge Mispricing Risk Of Downturn?

Photo by Primakov on Shutterstock


Engineered by
Benzinga Neuro, Edited by


Pooja Rajkumari


The GPT-4-based Benzinga Neuro content generation system exploits the
extensive Benzinga Ecosystem, including native data, APIs, and more to
create comprehensive and timely stories for you.
Learn more.


 

Related Articles (AAPL)

View Comments and Join the Discussion!

Posted-In: Apple Card Appleverse Consumer Tech Goldman Sachs job listingNews Tech General

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com