The Wall Street Journal (WSJ) quoted informed sources as saying that Apple and Goldman Sachs will launch an Apple Pay credit card, which is scheduled to be released in early 2019. For Apple, it is not ruled out as a new stepping stone to consumers.
Apple Pay is a major source of revenue for Apple's service business, but its promotion is slower than expected. Apple's cooperation with Goldman Sachs is expected to help increase Apple Pay's visibility.
Informed sources disclosed that every time Apple Pay adds a new cardholder, Goldman Sachs will award Apple’s bonus. Each account may exceed US$100. In addition, if an iPhone user uses the Apple Pay mobile payment system to purchase, either A credit card will receive 0.15% of the transaction fee for each transaction. If you use a credit card with Goldman Sachs, you will receive a one-time fee.
Apple hopes to double its service revenue from US$24.35 billion in 2016 to US$50 billion by 2020. The additional revenue generated by Apple Pay credit cards is expected to contribute.
In addition to credit cards, the partnership between Apple and Goldman Sachs will be further extended in the future, including Goldman Sachs providing loans for consumers to purchase iPhones and other Apple devices.
Apple's Apple Pay credit card will replace the company’s credit card with Barclays. Currently, Apple, Goldman Sachs and Barclays have not expressed their opinions on this.
Apple and Barclays Bank’s credit cards provide an interest-free loan to buy Apple’s devices. Goldman’s credit card sprints on Apple Pay’s revenue, but there is a challenge. Apple must determine that mobile payments revenue increases enough to make up for iPhone, iPad or Mac does not have a credit card zero rate loan subsidy, leading to a possible weakening of the buying gap.