Apple and Goldman Said to Develop Credit Card

The transcript discusses the partnership between Apple and Goldman Sachs to launch a co-branded credit card. The card aims to integrate with Apple Pay, offering features like earnings tracking and savings goals. While the partnership presents opportunities for cross-selling to each other's customer bases, it also poses risks, such as potential alienation of other banks and challenges for Goldman Sachs in consumer finance. Analysts express skepticism about the card's ability to attract new customers, noting the lack of unique rewards. The card is set to be tested with employees before a broader release.

What are the anticipated consumer reactions to the new co-branded card based on the analysts' perspectives?

What is the expected impact of the new card on Apple's transaction revenue?