Visa aims to be Apple's new credit card partner offers $ 100 million to replace MasterCard: Report | Mint

According to Apple, Visa has offered Apple a huge $ 100 million to take over the credit card partnership of the technical giant that replaced MasterCard, reports Reuters who quoted Wall Street Journal on Tuesday, referring to sources familiar with the case. Visa has made a daring pressure to secure the Apple card, with a prepayment usually reserved for the largest card programs, reports WSJ. Visa refused to comment on Reuters. According to reports, American Express is also aimed at withdrawing MasterCard to win the Apple Card. Amex wants to be the issuer of the map as well as the network, the report states with reference to the sources. Another partnership Goldman Sachs and Apple, which launched their credit card partnership in 2019 with MasterCard as the payment processor, ended the alliance, according to a November 2023 report. Several financial firms fight to replace Goldman as the credit card partner. Reuters reported in January that Apple was talking to Barclays and Synchrony Financial to become the technical giant’s credit card partner. JPMorgan Chase has also been in talks with Apple since last year, Reuters reported previously, Reuters reports. Goldman entered the consumer business almost a decade ago with the aim of broadening its revenue over its traditional pillars of trade and investment banking. At the end of 2022, the Wall Street Powerhouse decided to scale down its retail ambitions after setting billions of dollars aside to cover possible losses in the business. (Disclaimer: Mint has a fusion with fintechs to provide credit, you must share your information if you apply. This compositions do not affect our editorial content. This article only intends to promote awareness about credit needs, such as loans, credit cards and creditworthiness. Any credit. Live Mint. Download the Mint News app to get daily market updates. Business NewsMoneypersonal Financialvisa aims to be Apple’s new credit card partner, bid $ 100 million to replace MasterCard: Report more less