Visa Reportedly Aims To Power Apple Cards, But Retail Traders Stay Indifferent For Now

The report said that Visa, Amex, and Mastercard are all in the mix for the lucrative credit card partnership.

Updated: Apr 3, 2025, 5:01 PM IST

Visa (V) stock garnered attention on Tuesday after the Wall Street Journal reported that the company has offered $100 million to Apple to serve as the network for the iPhone maker’s credit card.

The report, citing people familiar with the matter, said Visa has aggressively pitched to win the card, including offering the kind of upfront payment to the tech giant usually reserved for the biggest card programs.

The report added that American Express is also in the running as it is trying to become both the issuer and network of the Apple card.

The Wall Street Journal had reported earlier that Goldman had approached Amex to gauge its interest in taking over the card in 2023.

The report said that the existing payment processor, Mastercard, is also fiercely trying to keep its role as the card's network.

Goldman Sachs forayed into consumer lending last decade and launched a credit card partnership with Apple in 2019 with Mastercard as the payment processor.

However, publications, including the Journal and Bloomberg, have reported that the two companies decided to part ways in 2023.

Earlier this year, Goldman Sachs indicated the partnership might end before its contract runs out in 2030.

Reuters had reported that Barclays, Synchrony Financial, and JP Morgan & Chase have been in talks with Apple regarding a potential partnership.

Retail sentiment about Visa on Stocktwits remained in the ‘extremely bearish’ (19/100) territory, while retail chatter remained ‘extremely low.’

V’s Sentiment Meter and Message Volume as of 03:05 a.m. ET on April 2, 2025 | Source: Stocktwits

Retail sentiment about Mastercard on Stocktwits moved to the ‘bearish’ (27/100) territory from ‘extremely bearish’ (22/100) a day ago, while retail chatter was ‘low.’