JPMorgan Chase is in discussions with Apple to take over its credit card program, which had previously been with Goldman Sachs, signaling a shift in partnerships.
The talks began earlier this year and have progressed, but it's noted that finalizing a deal could still take several months and involves price negotiation.
Goldman Sachs and Apple ended their credit card partnership last year, and this new potential collaboration with JPMorgan comes as Goldman faces concerns over profitability.
While companies are generally reticent, sources indicate that Goldman Sachs' challenges in the partnership contribute to the perception among lenders that the venture is too risky.
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