NFC TIMES Exclusive Insight – While Apple’s deal with Goldman Sachs to jointly roll out a new credit card this year integrated with Apple Pay and Apple’s devices made headlines Thursday, it was neither the first news of this partnership nor the first deal of its kind for Apple.
Moreover, the card is unlikely to have a significant impact on Apple Pay transactions or produce more the a blip in Apple’s services revenue, which the tech giant is keen to increase following the 15% drop in iPhone sales it reported for last quarter.
The joint card will reportedly be tested among employees this spring with plans for a commercial launch later this year, reported The Wall Street Journal. The publication had first reported the planned card project last year. Apple and Goldman Sachs will try to attract cardholders to the Mastercard-branded card in the Wallet app by giving them a 2% cash-back reward and also helping them manage their spending. Incentives on Apple products may also be part of the mix. But none of that is unique in the industry or to Apple.
