Apple Card has already cost Goldman Sachs billions of dollars

Apple Card, Apple’s Goldman Sachs-owned credit card, has reportedly already cost the bank billions of dollars since its introduction in 2019.

The card, which is managed via Apple’s iPhone and the Wallet app, effectively layers Apple’s software on top of a standard Goldman Sachs credit card. But with the bank in charge of all the financial side of things, it’s now reported that the joint venture is costing it billions of dollars.

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