By Nupur Anand NEW YORK -Apple is in talks with Barclays to replace Goldman Sachs as the tech giant's credit card partner, said two sources familiar with the matter, as the Wall Street giant steps back from its consumer finance ambitions.

Goldman Sachs is making losses due to the Apple Card. But the US bank cannot get out of the contract. But CEO Solomon is not giving up hope.

Goldman Sachs’ CEO confirmed on a recent earnings call that the institution’s Apple Card partnership could end sooner than planned.

Regulatory woes, financial losses, and a potential partner swap could reshape the future of Apple's first credit card

In late 2023, the news broke that Apple and Goldman Sachs would be calling it quits before the end of their contract. This was followed by months of rumors and speculation about Apple’s plans for a new partner,

Apple is reportedly in talks with Barclays to replace Goldman Sachs as its credit card issuer. This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Apple is in talks with Barclays to replace Goldman Sachs as the tech giant's credit card partner, said two sources familiar with the matter, as the Wall Street giant steps back from its consumer finance ambitions.

"There's some possibility" the credit-card partnership between Goldman Sachs (NYSE:GS) and Apple (NASDAQ:AAPL) will conclude before the contract's 2030 expiration date, Goldman CEO David Solomon said during his firm's (NYSE:GS) Q4 earnings call on Wednesday.

Goldman Sachs CEO David Solomon said that there's "some possibility" the company's Apple Card partnership with Apple could end