As tech giant Apple winds down its partnership with investment bank Goldman Sachs, it will need to find a new card issuer to back its credit card. And given the size of the business, there’s a small pool of suitors, analysts say.
Opinions differed as to who would be the best match for Cupertino, California-based Apple. Card network American Express was “probably not the right company,” Oppenheimer & Co. Analyst Dominick Gabriele said in an email. Gabriele added that private label card company Synchrony Financial “would love” Apple’s card since it fits with their modus operandi, and because Synchrony is “looking for technology-driven card partners.”
