INTERNATIONAL - Apple may soon launch a credit card in partnership with Goldman Sachs early next year, according to a report by the Wall Street Journal.
Citing people familiar with the matter, the report suggested that the card will carry the Apple Pay brand.
What is Apple Pay?
Apple Pay is a mobile payment and digital wallet service by Apple Inc, that allows users to make secure purchases in stores, in apps, and on the web.
In addition to a credit card, Goldman Sachs will offer services such as loans to customers buying iPhones and other gadgets in Apple Stores.
The Wall Street Journal added that the terms and benefits of the Apple card are still being developed.
According to the report, Apple could see a bounty for each new customer who takes up a credit card. This fee can be over $100 (R1226.20).
Apple currently offers a credit card in partnership with Barclays, and the report stated that Apple chose not to collect the bounty and instead used the money for the interest-free financing of devices.
Apple, Goldman Sachs, and Barclays declined to comment on the Wall Street Journal report.
Apple has been winning the hearts of it's invested lately, this can be seen last week when Berkshire Hathaway Inc bought 75 million additional Apple Inc shares in the first three months of the year, CEO Warren Buffett told CNBC, aggressively ramping up its bets on the iPhone maker.
Buffett’s Apple commitment over the past two years has surprised many, given his historical aversion to companies associated with the technology sector.
Berkshire’s initial investment in Apple was small, suggesting it was made by one of Buffett’s investment deputies, but with the latest stake purchase, it has grown to a solid 240.3 million shares worth $42.5 billion (R521 203 000 000.00)
- BUSINESS REPORT ONLINE