Apple launching a new credit card – Report

Apple is getting ready to launch a credit card in partnership with Goldman Sachs early next year, the Wall Street Journal reported.

Citing people familiar with the matter, the report stated that the card will carry the Apple Pay brand.

In addition to a credit card, Goldman Sachs will offer services such as loans to customers buying iPhones and other gadgets in Apple Stores.

The terms and benefits of the Apple card are still being developed.

According to the report, Apple could see a bounty for each new customer who takes up a credit card. This fee can be over $100.

Apple currently offers a credit card in partnership with Barclays, and the report stated that Apple chose not to collect the bounty and instead used the money for interest-free financing of devices.

Apple, Goldman Sachs, and Barclays declined to comment on the Wall Street Journal report.

Now read: Apple is not the first stock to close in on $1 trillion

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Apple launching a new credit card – Report