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International Business Times UK

Rohit David

Visa Makes £77 Million Pitch to Run Apple's Credit Card as Goldman Sachs Bows Out

Apple Visa Goldman Sachs United Kingdom Apple Card Mastercard

Image Credit Pexels: Visa Bids £77M for Apple Card as Goldman Sachs Exits

In a bold move, Visa has placed a £77 million ($100 million) bid to take over Apple's credit card operations, stepping in as Goldman Sachs withdraws following financial losses and regulatory challenges.

Goldman Sachs' exit marks the end of its high-profile but troubled partnership with Apple, which struggled to meet profitability targets amid rising costs and increasing regulatory scrutiny. Visa's bid signals a strategic push into the consumer credit market, potentially reshaping how the Apple Card operates.

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