Exclusive: Apple in talks with Barclays, Synchrony to replace Goldman in credit card deal, sources say

Nupur Anand - Reuters - 16/01
Apple is in talks with Barclays to replace Goldman Sachs as the tech giant's credit card partner, said two sources familiar with the matter, as the Wall Street giant steps back from its consumer finance ambitions.
NEW YORK, Jan 15 - Apple (AAPL.O), opens new tab is in talks with Barclays (BARC.L), opens new tab to replace Goldman Sachs (GS.N), opens new tab as the tech giant's credit card partner, said two sources familiar with the matter, as the Wall Street giant steps back from its consumer finance ambitions.
Credit card issuer Synchrony Financial (SYF.N), opens new tab is also in discussions with Apple about the card partnership, the first source said. Both sources declined to be identified discussing private talks.
Several financial firms are vying to replace Goldman, which launched the credit card with Apple in 2019, the sources said. While other lenders are tempted by working with Apple, one of the world's most recognizable brands, they also viewed the original deal terms as risky and unprofitable, sources told Reuters in December 2023.
Negotiations between Apple and Barclays have been ongoing for several months, but it may still take months to...
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