Apple, Goldman Sachs partner on credit card for the iPhone, WSJ says

Brendan McDermid | Reuters

Apple CEO Tim Cook speaks at the Anti-Defamation League’s “Never is Now” summit in New York City, December 3, 2018

Apple is working with Goldman Sachs on a joint credit card that the companies plan to roll out this spring, the Wall Street Journal reported on Thursday, citing sources familiar with the matter.

Employees will begin testing the card soon and it will officially launch this spring, according to the report. The credit card will be paired with new iPhone features designed to help Apple customers manage their finances.

The card will use Mastercard’s network, the WSJ reported. Additionally, card users are expected about 2 percent in cash back on the majority of purchases, the report said, with possibly greater returns for purchases of Apple products. Beyond the bonuses, Apple and Goldman Sachs hope to attract users with extra features in the technology company’s Wallet application, such as: Tracking rewards, spending goal and managing their account balances.

Read the full story from the Wall Street Journal here.

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