Apple already gets a small portion of the purchases made through Apple Pay and use of this credit card will undoubtedly increase that amount. Apple is looking to increase its revenue from services as its iPhone sales dipped recently. The iPhone is Apple's largest contributor to company profits.
Goldman Sachs is looking to offset decreases in its trading business by increasing consumer loans and has recently been making significant pushes into digital payments. The bank could also potentially offer more of its services to Apple customers in the future.
The credit card will use Mastercard's payment network, according to the report.
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