Apple (AAPL) is in discussions with Barclays (BCS) to replace Goldman Sachs (GS) as its credit card partner, Reuters reported Thursday, citing two sources familiar with the matter.
Goldman Sachs has a deal with Apple until 2030, however, the bank is scaling back its consumer finance business after facing losses and shifting its focus and Goldman CEO David Solomon has previously indicated the partnership with Apple could end earlier.
Barclays has been in negotiations with Apple for months, but has yet to reach an agreement, the report said.
Synchrony Financial (SYF) is also in talks with Apple about the card partnership, the report said.
Reuters previously reported that JPMorgan Chase (JPM) has also been in talks with Apple about the business since since last year.
Apple, Goldman, Barclays, JPMorgan, and $Synchrony Financial(SYF-B)$ did not immediately respond to requests for comment from MT Newswires.
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