Will A New Goldman-Backed Credit Card Breathe Life Into Apple Pay?
Will A New Goldman-Backed Credit Card Breathe Life Into Apple Pay? Apple is partnering with Goldman Sachs to offer a new credit card, which it’s releasing to employees in a test phase in the coming weeks. The card will integrate with the iPhone, Apple Watch and Apple’s mobile payment services Apple Wallet and Apple Pay, paving the way for new features, like helping consumers set spending goals and nudging them to pay down debt faster, according to the Wall Street Journal (Apple didn’t respond to requests for comment). Phone sales fell 15% to $52 billion in the last quarter of 2018, compared with the same period in 2017. For Apple’s payments initiatives, the holy grail would be to build businesses like China’s Alipay and WeChat Pay, payments apps that have morphed into ecosystems of services, letting consumers book flights and summon rides.