JP Morgan is reportedly in talks to replace Goldman Sach’s as Apple’s credit card partner.

In 2019, Apple launched the Apple Card in partnership with Goldman Sachs. The Apple Card is a credit card built into Apple products that is issued by Goldman Sachs.

Apple is reconsidering their partnership with Goldman after the bank decided to migrate away from the retail banking market and shift its focus back to its core propositions of trading, investment banking, wealth management, and transaction banking.

JP Morgan has emerged as the frontrunner to be the new issuer of the Apple Card. Discussions between Apple and JP Morgan began at the start of 2024 and have progressed in recent weeks.

If JP Morgan becomes the new issuer of the Apple Card, then it might change several features of the card that it has expressed negative opinions about, such as the calendar-based billing feature which tends to overwhelm service personnel.

Only time will tell whether an Apple x JP Morgan partnership comes to fruition.