Earlier, it was reported that Apple would cooperate with Goldman SachsTermination of Apple Card credit card business partnershipRear,PressIt once again alleged that the partnership between the two parties may face challenges due to the transfer of customer data.
Previous reports revealed that Apple's partnership with Goldman Sachs would end within the next 12 to 15 months, and there were even rumors that Apple would subsequently cooperate with American Express.
However, Reuters reported that Apple previously stated that it would not sell or share Apple Card user information with anyone, and even Goldman Sachs could not obtain such information. This may increase the difficulty for Apple to transfer this business to subsequent partners because the financial institutions that take over this cooperative business will not be able to obtain valuable consumption and deposit-related data from it.
Therefore, when Apple previously tried to find potential partners for the Apple Card, JPMorgan Chase rejected the partnership, believing the potential benefits were too low. Sources indicate that if Apple were to adjust the terms of the partnership, it might be able to reach potential partnerships with Synchrony Financial, Citigroup, and Capital One.
Apple previously revealed that it would expand the Apple Card business to more markets, and even applied for Apple Card-related name trademarks in Hong Kong, Japan and other regions. However, it seems that due to the inability to reach a consensus on interests with financial institutions, it has never been able to be widely promoted in the global market.
