Apple, Goldman Sachs Team Up on Credit Card Paired With iPhone
Both companies are seeking new revenue sources as their bread-and-butter businesses struggle
Apple said iPhone revenue dropped 15% in the fiscal first quarter, causing a drop in both revenue and earnings amid a matured smartphone market and a slowdown in its service business. WSJ's Lee Hawkins reports. Photo by Justin Lane/EPA-EFE/Shutterstock
Apple Inc. and Goldman Sachs Group Inc. plan to start issuing this spring a joint credit card paired with new iPhone features that will help users manage their money.
The card will be rolled out to employees for testing in the next few weeks and officially launch later this year, according to people familiar with the matter. The companies hope to lure cardholders by offering them extra features on Apple’s Wallet app, which will let them set spending goals, track their rewards and manage their balances, the people said.
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