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Say goodbye to 4.15% high-yield savings, news that JPMorgan Chase succeeds Goldman Sachs and Apple in financial cooperation

2024-06-20 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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CTOnews.com, December 5 (Xinhua) in the latest Power On newsletter, Bloomberg's Mark Gurman believes that after Apple and Goldman Sachs "break up", the next partner will be JPMorgan Chase.

Goolman believes that Apple has already launched a number of financial partnerships with JPMorgan, and the two sides have the basis to promote Apple Card services.

JPMorgan Chase was an early partner in Apple's Apple Pay service and had previously partnered with a joint incentive program to offer discounts on Apple products to JPMorgan customers.

In addition, Apple Card is currently using the Mastercard platform, while JPMorgan Chase is currently using the platform, meaning Apple will no longer need to switch to Visa or American Express in the future.

CTOnews.com note: when Apple first found a partner for Apple Card, JPMorgan Chase, American Express and Citigroup said they were not sure whether the plan would succeed, so they refused to work with Apple.

Now that Apple Card has millions of users, banks that were not interested in the past may have to reconsider.

Goolman said that if Apple does work with JPMorgan in the future, JPMorgan does not plan to provide a high-yield savings account with a 4.15% return, but will ask to cancel the Apple Savings account, or Apple will find a new partner for it.

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