Is Apple Eyeing A New Partner For Apple Card Issuance? This Job Listing May Give A Clue
Portfolio Pulse from Benzinga Neuro
Apple Inc. (AAPL) is speculated to be seeking a new partner for its Apple Card operations following the potential end of its partnership with Goldman Sachs. A job listing for a software engineer at Apple Processing LLC hinted at a collaboration with Brazilian fintech company Pismo, recently acquired by Visa. Goldman Sachs is reportedly considering transferring the Apple Card program to American Express, while Synchrony Financial might take over the business. No official confirmation from Apple has been made regarding these changes.
November 30, 2023 | 10:29 am
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POSITIVE IMPACT
American Express is mentioned as a potential contender to take over the Apple Card program from Goldman Sachs.
If American Express is indeed considering taking over the Apple Card program, this could be seen as a positive development for AXP, indicating potential new business and revenue streams. However, the impact is based on unconfirmed reports, hence the moderate confidence score.
CONFIDENCE 60
IMPORTANCE 55
RELEVANCE 50
POSITIVE IMPACT
Synchrony Financial is also reported to be considering taking over the Apple Card business from Goldman Sachs.
Synchrony Financial's potential involvement in taking over the Apple Card business could be a positive indicator for SYF, suggesting expansion of its credit card portfolio. The impact is speculative at this stage, reflected in the moderate confidence score.
CONFIDENCE 60
IMPORTANCE 55
RELEVANCE 50
POSITIVE IMPACT
Visa has recently acquired Pismo, a company mentioned in connection with Apple's search for a new Apple Card partner.
Visa's acquisition of Pismo, which is being considered by Apple for its card operations, could potentially enhance Visa's business with a high-profile client like Apple. The news could have a positive short-term impact on Visa's stock, but the effect is uncertain without official confirmation.
CONFIDENCE 65
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Apple Inc. is rumored to be looking for a new partner to manage Apple Card operations, potentially collaborating with Pismo after its partnership with Goldman Sachs may end.
The news is speculative and lacks official confirmation from Apple, which makes the impact on AAPL's stock price uncertain in the short term. However, the potential change in partnership for a key service like Apple Card could have operational implications and investor interest, warranting moderate relevance and importance.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
Goldman Sachs, the current partner for Apple Card, is reportedly considering offloading the program, possibly to American Express, as it faces concerns over loss rates.
The potential offloading of the Apple Card program by Goldman Sachs to another financial institution like American Express could be seen as a negative development for GS, especially if driven by concerns over loss rates. This could lead to a negative short-term impact on GS's stock price.
CONFIDENCE 65
IMPORTANCE 65
RELEVANCE 70