A Wall Street Journal report claims that Apple is partnering with Goldman Sachs to launch a new credit card that will integrate with the iPhone.
The card, which will be linked with Apple’s Wallet app, will allow users to set spending goals, track rewards, and manage balances, WSJ said.
Currently, Apple takes a small percentage of every sale that goes through Apple Pay. But the report notes that Apple would take a larger percentage when purchases are made using its own credit card. The card will use Mastercard’s payment network. Spending on Apple products and services could potentially result in more cashbacks, some of the people told WSJ.
Goldman Sachs has already started adding customer-support call centers, and building an internal system to handle payments, WSJ said.
Apple did not respond to a request for a comment.
The new cards are said to be rolled out to employees for testing in next few weeks and will be launched later this year.