A new credit card from Apple and Goldman Sachs could be coming soon. I wrote about it about a year ago, when it was first rumored. The card is designed to work with the Apple Wallet app on iPhones to help customers set spending goals, track their rewards and manage their balances, according to the Wall Street Journal.
Apple gets a very small payment of less than a penny on each Apple Pay transaction when customers use another company’s credit cards. By having a new joint card with Goldman, Apple could get a much bigger slice of fees paid by merchants for credit card purchases.
The new card is being rolled out to Apple and Goldman employees for testing in the next few weeks and will officially launch to the public later this year.