Goldman Partnering With Apple For Credit Card Deal For iPhone Users

By John Heerdink LinkedIn

The Goldman Sachs Group, Inc. (GS) is one of the world’s leading investment bankers & also a securities and investment management firm that offers a wide range of financial services with a diversified client base.

Goldman Sachs Group Inc’s (GS) credit card deal with Apple Inc will potentially connect hundreds of millions of iPhone users to Goldman. Goldman credit card offers would include no annual fee, no late fee and the annual rate of interest would range from 13.24% and 24.24% as per Apple’s website. This could potentially further diversify Goldman’s revenue stream.

Some investors, however, are reported to be a little edgy regarding the collaboration as they anticipate this could turn out to be a setback as this offering will further increase its unsecured debt. Some investors further suggest that Goldman should stick to consumer business rather than relying on the credit card and personal loan debts.

Experts predict as it is the bank’s first step towards credit cards, it will take a year or two to gauge the quality of its credit decision. The decision will open its doors for Goldman to increase its consumer market share.

To learn more about The Goldman Sachs Group, Inc. (GS) and to continue to track its progress please visit the Vista Partners Goldman Sachs Group, Inc. (GS) Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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Goldman’s Apple pairing furthers bank’s mass-market ambitions

Goldman Sachs Group Inc’s credit card deal with Apple Inc is the latest move by the Wall Street investment bank to court mass-market consumers, potentially connecting Goldman with hundreds of millions of iPhone users. Goldman has been courting consumers since the 2016 launch of its online bank..

finance.yahoo.com

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