The Apple Card, launched in 2019, has enjoyed high customer satisfaction but is now at a turning point as Goldman Sachs, its partner, intends to exit the collaboration. This tension arises in part due to a significant fine from the US Consumer Financial Protection Bureau and broader challenges faced during economic instability. Apple is reportedly in talks with potential new partners, including Barclays and JP Morgan Chase, while the urgency of finding a replacement partner is underscored by Goldman Sachs' warning of a possible early termination of their agreement.
Apple has reached a crossroads with its Apple Card as Goldman Sachs expresses desire to exit the partnership, pushing Apple to seek new banking collaborators.
Despite high customer satisfaction levels, the Apple Card faces a transition period as Apple explores new relationships post-Goldman Sachs, who wishes to depart.
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