Is Apple Eyeing A New Partner For Apple Card Issuance? This Job Listing May Give A Clue

Apple Inc. AAPL is reportedly on the lookout for a new partner to manage its Apple Card operations. This development comes amid an end to its partnership with Goldman Sachs.

According to a report by 9to5Mac, a job listing posted in August and removed in October suggested the tech giant is seeking a software engineer for Apple Processing LLC, a subsidiary that focuses on payment solutions. The job description provided some hints about Apple’s plans, mentioning in particular a collaboration with Brazilian fintech company Pismo.

Pismo, known for its modern, cloud-based banking and payment structure, was recently acquired by Visa. The job description’s mention of Pismo suggests that Apple could be considering the firm to issue and manage Apple Card processing, as its partnership with Goldman Sachs is reportedly on shaky ground.

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The Wall Street Journal has reported that Goldman Sachs has considered offloading the Apple Card program to American Express. However, concerns about the program’s loss rates have been raised. Meanwhile, Synchrony Financial is also reportedly contemplating taking over the Apple Card business.

Despite rumors and reports, Apple has not publicly confirmed or denied any changes to its partnership with Goldman Sachs. The tech giant maintains its commitment to innovating and delivering the best tools and services for Apple Card customers.

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