JPMorgan Chase & Co. is holding discussions with Apple Inc. to potentially replace Goldman Sachs Group Inc. as the tech giant's credit card issuer, The Wall Street Journal reported on Tuesday citing sources with knowledge on the matter.
The sources explained that while the talks commenced earlier this year, they have been advancing in recent weeks. Nonetheless, a possible agreement might be months away, with important details, such as price, still being negotiated, the sources added.
Apple and Goldman Sachs brought their partnership on the credit card program to an end in 2023. Apart from JPMorgan, the iPhone maker has also held discussions with Synchrony Financial and Capital One Financial Corporation, according to WSJ sources.
