Amid long-running experiences that Apple and Goldman Sachs are working towards ending their Apple Card partnership, JPMorgan Chase is now in talks with Apple about taking on the bank card program, experiences The Wall Avenue Journal.
A deal might nonetheless be months away, based on the report, however talks have accelerated in current weeks as the 2 sides negotiate particulars of a possible settlement.
Chase is on the lookout for sure concessions to ensure that a deal to be reached, together with paying lower than the $17 billion face worth of excellent balances of Apple Card holders and eliminating the synchronized Apple Card billing cycles that match the calendar months however have created customer support points.
Apple has additionally spoken with Synchrony Monetary and Capital One concerning the Apple Card program, whereas Goldman Sachs spoke with American Categorical final 12 months as the 2 present companions on Apple Card have been exploring the way to finish their partnership, however it seems Chase is the present chief.
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