Goldman Sachs is taking a swipe at the consumer finance market, with the launch of a credit card in partnership with Apple. This is the first ever credit card to be offered by Goldman Sachs.
According to a memo obtained by CNBC, David Solomon, CEO at Goldman Sachs said, “This partnership is a major step in the growth of our consumer franchise, furthering our vision to create the leading digital consumer platform.”
Customers will be eligible for cashbacks, including 2% cashback on all Apple Pay purchases made with the card and 3% upon buying at the Apple Stores or at the App Store. These cashbacks would be added to the users Apple Cash card daily and could be put to use instantly.