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Visa, American Express Bidding to Win Apple Credit-Card Network

Visa has made Apple an offer of around 100 million dollars to secure the Apple Card. The background to this is that Goldman Sachs is withdrawing from the consumer credit business and the card will be reissued. In addition to Visa also fight American Express and Mastercard for the role of card network. Visa has made an aggressive offer, while American Express is competing as both issuer and network. Mastercard wants to retain its position as a network. The deal would be the end of Goldman's Goldman's failed attempt in the consumer credit business, which Apple which is worth around 20 billion dollars.

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Source: https://www.tradingview.com/news/DJN_DN20250401009397:0/

3 Commenti

Thomas Hauck@tomtom38

20 billion a year?? The question is what the margin is on the deal

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Peter A.@Kamahl_

I worked at AXP for several years and many people have failed with credit cards. There are enough banks that don't offer them. The credit risk, fraud risk, regulation,... is very special in this area. Good luck to whoever gets the portfolio. If GS has done this for the first time, it's probably pretty garbage.

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finanzperpetuum@finanzperpetuum

@Kamahl_ A few days ago, I decided to use $AXP for my custody account. I like the fact that they offer everything, they are issuers and operate the payment network and not just for AMEX itself. I don't think the customer base is quite so dependent on the economy, it's more people who don't have to look at the penny, so the risks you mentioned are perhaps somewhat lower. And expansion hopefully well considered, as they always have to build up everything themselves. Let's see ... I also got the Platinum card. I like the rental car package and as a frequent user and campaigner of $SIX2 I hope it's very practical.

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