Goldman Sachs is contemplating ending its partnership with Apple, according to The Wall Street Journal. The discussions revolve around terminating their relationship, which started in 2019 with the introduction of the Apple Card.
The reasons behind the potential breakup remain unclear. The WSJ mentioned various factors, including Apple’s desire for more control over its financial services business and Goldman’s focus on investment banking and wealth management.
Another possibility is that the two companies cannot agree on the terms of a new partnership. Goldman Sachs reportedly wants a significant financial gain to end the relationship, while Apple is hesitant to pay a high price.
The potential breakup between Apple and Goldman Sachs would be a significant development in the financial services industry. Since the launch of the Apple Card, the two companies have been closely connected and have shaped the future of mobile payments.
It is too early to determine if they will ultimately reach an agreement. However, the consideration of a breakup indicates strain in their relationship. Ending the partnership would be a major setback for both companies and would impact the future of mobile payments.
