{"id":1207119,"date":"2023-11-29T11:40:07","date_gmt":"2023-11-29T16:40:07","guid":{"rendered":"https:\/\/www.prime-wow.com\/?p=1207119"},"modified":"2023-11-29T11:40:07","modified_gmt":"2023-11-29T16:40:07","slug":"report-apple-and-goldman-sachs-are-breaking-up-over-money-losing-apple-card","status":"publish","type":"post","link":"https:\/\/www.prime-wow.com\/?p=1207119","title":{"rendered":"Report: Apple and Goldman Sachs are breaking up over money-losing Apple Card"},"content":{"rendered":"
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\n \"Report:<\/p>\n

Enlarge<\/a> (credit: Apple)<\/p>\n<\/figure>\n

<\/div>\n

Apple has repeatedly trumpeted<\/a> the success<\/a> of its financial services, a product lineup that now encompasses the Apple Card credit card, high-interest savings accounts, and a buy-now-pay-later service called Apple Pay Later<\/a>.<\/p>\n

But even if those products have proven reasonably popular with consumers, they haven\u2019t been working out for the bank that Apple has partnered with to supply those services. Goldman Sachs\u2019 consumer services have been losing the company billions of dollars, according to reporting from Bloomberg<\/a>, CNBC<\/a>, and The New York Times<\/a>, among others. These losses have been driven in part by a much higher-than-usual loss rate on its credit card loans\u2014meaning that people with Goldman-backed credit cards like the Apple Card are actually making their payments less often than people with credit cards from other banks.<\/p>\n

Today, The Wall Street Journal reports<\/a> that Apple has sent Goldman Sachs a proposal that will end their partnership within the next 12 to 15 months, leaving Apple to find a new backer for its financial products.<\/p>\n<\/div>\n

Read 5 remaining paragraphs<\/a> | Comments<\/a><\/p>\n


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\nSource: Ars Technica – Report: Apple and Goldman Sachs are breaking up over money-losing Apple Card<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Enlarge (credit: Apple) Apple has repeatedly trumpeted the success of its financial services, a product lineup that now encompasses the Apple Card credit card, high-interest savings accounts, and a buy-now-pay-later service called Apple Pay Later. But even if those products … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":1207120,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,110],"tags":[73],"class_list":["post-1207119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ars-technica","category-unfiltered-rss","tag-ars-technica"],"_links":{"self":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts\/1207119","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1207119"}],"version-history":[{"count":0,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts\/1207119\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/media\/1207120"}],"wp:attachment":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1207119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1207119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1207119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}