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JPMorgan emerges as frontrunner to take over Apple’s credit card partnership
JPMorgan is set to assume Apple’s credit card partnership, signaling a strategic shift in consumer finance as banks reassess profitability and risk in co-branded lending.
JPMorgan Chase has reached an agreement in principle to take over Apple’s credit card business, replacing Goldman Sachs after the partnership faced profitability challenges. The move could strengthen JPMorgan’s consumer finance footprint while giving Apple a more stable banking partner. The deal highlights rising costs in consumer lending and increasing scrutiny over co-branded credit card economics amid tighter regulatory and funding conditions.