Bloomberg is reporting that Apple has signed a deal with Goldman Sachs to introduce a new debit card system called Apple Goldman Sachs Platinum. The WSJ quotes from people familiar with the matter who say that Apple will be partnering with Goldman Sachs on the launch of the new debit card system.
Apple Goldman Sachs is a financial institution based in New York that provide corporate finance, investment banking, and other financial services. As part of their focus on corporate finance, they are a large lender for businesses in a variety of industries. The company was founded in 1985 and is one of the biggest and most influential providers of commercial loans in New York. As part of the deal, Apple will be using a specific application for the gold card that is already available on the iPhone.
The application will include features similar to those found on other cards such as reward programs, spending limits, and other financial functions. In addition to all of these features, it will also be able to store money directly from your bank account. The WSJ says that the new program will work alongside the existing Apple Wallet application on the iPhone. This means that you can easily transfer money between your bank account and the gold card without having to enter your PIN number.
It is unknown at this time if Apple will make the application available for download on an iPhone. This is because there is still some work to be done before the new program can be launched. Bloomberg says, “An Apple representative declined to comment.” However, according to other sources, the company has said in the past that the new system would be made available to iPhones in the near future.
Apple is expected to be the latest credit card companies to come up with its own credit-card system. Other notable companies that are working on their own card systems are Capital One, Discover Financial Services, and Visa.
We'll have to wait until more details on the new debit card program are released to see if the company can really beat out competitors. Credit cards have been a problem for many consumers over the past few years, but Apple seems to be banking on the fact that their customers will want to stay within their current banking environment.
Banks and other financial institutions offer credit cards, but people don't tend to use them very much. With the iPhone's application, they'll be able to transfer money between their bank accounts using their mobile phone. That means that they won't have to worry about losing their wallet or purse while walking around a crowded area. In addition to that, they can transfer money to their accounts using their mobile phone, which means they won't need to carry around their wallet or purse with them.
The debit card industry has been struggling in recent years because many banks have been reluctant to approve new customers who are looking to use their card. But if the new Apple application is approved, it may have a very big advantage.
