Visa bids $100 million to replace Mastercard as Apple's new credit card partner: Report
The Hindu
Visa offered Apple roughly $100 million to take over the tech giant’s credit card partnership, per WSJ.
Visa has offered Apple roughly $100 million to take over the tech giant's credit card partnership from Mastercard, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter.
Visa has made a bold push to secure the Apple Card, offering an upfront payment typically reserved for the largest card programs, WSJ reported.
Visa declined to Reuters' request for comment.
American Express is also trying to unseat Mastercard to win the Apple card. Amex is looking to become the card's issuer as well as the network, the report said, citing the sources.
Goldman Sachs and Apple, which launched their credit card partnership in 2019 with Mastercard as the payment processor, have ended the alliance, according to a report from November 2023.
Several financial firms are vying to replace Goldman as the credit card partner.
Reuters reported in January that Apple was in talks with Barclays and Synchrony Financial to become the tech giant's credit card partner.
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
Reliance Group firms RInfra and RPower cooperate with ED after searches, no impact on business operations.
Tata Consultancy Services retraining staff, deploying AI, and cutting jobs to adapt to market challenges by 2026.
Indian economy set to grow over 6.5% with strong domestic consumption, positive FDI outlook, and trade negotiation concerns with the U.S.
Top firms' market valuation dropped by ₹2.22 lakh crore, led by Reliance Industries, amid bearish equities trend.
Under the U.K.-India Comprehensive Economic and Trade Agreement, U.K. has removed tariffs on 99% of its product lines and India has agreed to either eliminate or reduce duties on 90% of its tariff lines
Tech India's AI-first strategy reshapes developer roles, with AI automating routine tasks while developers focus on complex projects.
IDFC First Bank Q1 net profit falls 32%, NII grows 5.1%, NIM reduces due to repo impact and asset mix change.
Kotak Mahindra Bank Q1FY26 results: 7% decline in standalone net profit, NII up 6%, GNPA 1.48%, NNPA 0.34%.
Allcargo Group Founder discusses global supply chain disruptions, India's potential, leadership development, and sustainability initiatives.
NephroPlus files for IPO to raise funds for expansion, with plans to open new dialysis clinics in India.
NSDL announces Rs. 4011.6 crore OFS IPO priced at Rs. 760-800/share, with diluting shareholders including IDBI Bank, NSE, and more.
RBI Governor Malhotra discusses rate cuts, inflation outlook, and regulatory reforms at the FE Modern BFSI Summit.
ITC Chairman Sanjiv Puri discusses the future of Indian brands, emphasizing the importance of establishing a strong presence in India first.