Molly, you in danger girl?!....'Apple Card' in danger as Goldman Sachs wants to end partnership with Apple.....

[NewtonMP2100]

......American Express might take over....


Goldman Sachs Wants to End Apple Partnership, American Express Might Take Over

....Goldman Sachs does not want to continue its partnership with Apple, according to a new report from The Wall Street Journal. Apple has teamed up with Goldman Sachs for the Apple Card credit card in the United States, Apple Pay Later, and the Apple Savings account that Apple Card users can opt for.

The banking company wants to cut back on its consumer business, and is now in talks with American Express (or Amex) about a potential takeover. A deal would see Goldman Sachs offloading its credit card partnerships to another company, which would include the Apple Card and other credit cards like one it offers for General Motors.

American Express has not yet established an agreement with Goldman Sachs, and a deal is not "imminent or assured," according to people who spoke to The Wall Street Journal.

Goldman Sachs recently extended its partnership with Apple through the end of the decade. Apple would have to agree to a transfer, and is aware of the talks that Goldman Sachs has been having with Amex......


.........splitting...........?!

[Stavs]

They've been wanting out for a long time. I saw a video about it a year or so ago.

[graylocks]

Would Goldman keep the savings accounts?

[dk62]

That sucks considering how many places do not take Amex.

[sekker]

dk62 wrote:
That sucks considering how many places do not take Amex.

Good for AmEx, you mean - wealthy Apple customers wanting to push vendors to accept their preferred card!

[Markintosh]

Yes, if it actually became an AmEx card, I would probably close that account...

[graylocks]

dk62 wrote:
That sucks considering how many places do not take Amex.

That was very true 25 or so years ago. Only somewhat true now. When i first started using Square the fee for taking Amex was higher but they dropped the surcharge a very long time ago.

[sekker]

graylocks wrote:
[quote=dk62]
That sucks considering how many places do not take Amex.

That was very true 25 or so years ago. Only somewhat true now. When i first started using Square the fee for taking Amex was higher but they dropped the surcharge a very long time ago.
'Network Acceptance Rates
Another important factor to consider when comparing networks is how widely accepted it is. In short, it won’t do much good to have a credit card if it’s not accepted at the retailers you plan to visit.

Domestic
To put it simply, the more merchants that accept your card, the better the card’s network. Visa and Mastercard have traditionally been the main contenders with acceptance at 10.7 million U.S. retailers.

But in the February 2020 Nilson Report, it was reported that 99% of credit card-accepting merchants in the U.S. can now accept American Express, meaning 10.6 million retailers now accept American Express. This is a huge change from 5 years ago when American Express was only accepted at 3.7 million.'

https://upgradedpoints.com/credit-cards/...astercard/

I visited Paris recently. There were definitely vendors who did not accept AmEx.

Fewer in the US.

[dk62]

Domestic, partially yes. But I do a lot of international travel, Amex sucks all over the world. Half the time I have to use my own card instead of the company Amex.