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Goldman Sachs Wants to End Apple Partnership, American Express Might Take Over (www.macrumors.com)

submitted 1 year ago by [email protected] to c/[email protected]

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Can't tell if this is a good or bad thing. American Express certainly is more well known for superior customer service, but they also seem to be less accepted at more retailers. Curious to see what comes out of this.

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[–] [email protected] 1 points 1 year ago (1 children)

Could Apple start something like it’s own bank? Not anytime soon, but what is stopping them? Apple Pay shows there’s a market there to be exploited.

[–] [email protected] 1 points 1 year ago

There is a ton of requirements they would have to meet due to regulations but they technically could however the question for management is if it’s worth the investment rather than getting a favorable deal with another bank. Goldman Sachs seems to be saying they just grew too fast, so another bank might be able to manage better such as AMEX.